FY2016 EPS Estimates for Intel Corp. Lifted by Analyst (INTC)
Intel Corp. (NASDAQ:INTC) – Analysts at Jefferies Group upped their FY2016 earnings estimates for Intel Corp. in a report released on Monday. Jefferies Group analyst M. Lipacis now anticipates that the firm will post earnings of $2.71 per share for the year, up from their previous forecast of $2.62. Jefferies Group currently has a “Buy” rating and a $49.00 price target on the stock. Jefferies Group also issued estimates for Intel Corp.’s Q4 2016 earnings at $0.86 EPS, Q1 2017 earnings at $0.69 EPS, Q2 2017 earnings at $0.74 EPS, Q3 2017 earnings at $0.83 EPS and Q4 2017 earnings at $1.00 EPS.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. The business earned $13.50 billion during the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 EPS.
Several other research analysts have also recently issued reports on the company. Canaccord Genuity increased their price target on Intel Corp. from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley reissued an “underweight” rating and issued a $34.00 price target on shares of Intel Corp. in a research note on Tuesday. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $44.00 price target (up previously from $42.00) on shares of Intel Corp. in a research note on Tuesday. Susquehanna assumed coverage on Intel Corp. in a research note on Tuesday. They issued a “positive” rating and a $42.00 price target for the company. Finally, Sanford C. Bernstein reissued a “hold” rating on shares of Intel Corp. in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have assigned a buy rating to the company’s stock. Intel Corp. presently has a consensus rating of “Buy” and a consensus target price of $39.01.
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Intel Corp. (NASDAQ:INTC) traded down 0.16% during mid-day trading on Tuesday, reaching $37.10. The company had a trading volume of 10,755,287 shares. The stock’s 50-day moving average is $35.47 and its 200 day moving average is $32.89. The firm has a market capitalization of $175.52 billion, a P/E ratio of 17.99 and a beta of 0.93. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.05.
Hedge funds have recently modified their holdings of the company. Global X Management Co. LLC boosted its position in Intel Corp. by 52.0% in the second quarter. Global X Management Co. LLC now owns 3,037 shares of the chip maker’s stock worth $100,000 after buying an additional 1,039 shares during the period. Carnick & Kubik LLC bought a new position in Intel Corp. during the first quarter worth about $100,000. Penserra Capital Management LLC boosted its position in Intel Corp. by 36.3% in the second quarter. Penserra Capital Management LLC now owns 3,178 shares of the chip maker’s stock worth $104,000 after buying an additional 847 shares during the period. Proficio Capital Partners LLC boosted its position in Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock worth $118,000 after buying an additional 1,998 shares during the period. Finally, Nelson Roberts Investment Advisors LLC boosted its position in Intel Corp. by 55.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 3,443 shares of the chip maker’s stock worth $113,000 after buying an additional 1,226 shares during the period. Hedge funds and other institutional investors own 64.77% of the company’s stock.
In other Intel Corp. news, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the sale, the vice president now directly owns 84,505 shares in the company, valued at approximately $2,912,042.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Andy D. Bryant sold 445,095 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $34.69, for a total value of $15,440,345.55. Following the sale, the chairman now owns 399,557 shares of the company’s stock, valued at $13,860,632.33. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. Intel Corp.’s payout ratio is currently 50.24%.
About Intel Corp.
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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