Intel Corp. (INTC) Price Target Raised to $44.00
Intel Corp. (NASDAQ:INTC) had its price objective hoisted by research analysts at Canaccord Genuity from $40.00 to $44.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the chip maker’s stock. Canaccord Genuity’s target price indicates a potential upside of 18.41% from the company’s current price.
Several other research firms have also commented on INTC. B. Riley restated a “buy” rating and set a $45.00 price target (up from $42.00) on shares of Intel Corp. in a research report on Friday. Citigroup Inc. raised their price target on Intel Corp. from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday. BMO Capital Markets restated a “hold” rating and set a $34.00 price target on shares of Intel Corp. in a research report on Monday. Stifel Nicolaus set a $39.00 price target on Intel Corp. and gave the stock a “buy” rating in a research report on Monday. Finally, Robert W. Baird increased their price objective on Intel Corp. from $40.00 to $42.00 and gave the company an “outperform” rating 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. The company presently has an average rating of “Buy” and a consensus price target of $39.01.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.16 on Tuesday. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.05. The stock has a market capitalization of $175.80 billion, a PE ratio of 18.02 and a beta of 0.93. The company’s 50 day moving average price is $35.47 and its 200 day moving average price is $32.89.
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Intel Corp. (NASDAQ:INTC) last released its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. During the same period last year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Intel Corp. will post $2.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.80%. Intel Corp.’s dividend payout ratio (DPR) is 50.24%.
In related news, CEO Brian M. Krzanich sold 71,413 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.73, for a total transaction of $2,337,347.49. Following the sale, the chief executive officer now owns 435,796 shares in the company, valued at $14,263,603.08. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction of $15,440,345.55. Following the sale, the chairman now owns 399,557 shares in the company, valued at approximately $13,860,632.33. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC raised its stake 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 valued at $100,000 after buying an additional 1,039 shares during the period. Carnick & Kubik LLC purchased a new position in Intel Corp. during the first quarter valued at approximately $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 valued at $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 valued at $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 valued at $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.
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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