Intel Corp.’s (INTC) “Underweight” Rating Reiterated at Morgan Stanley
Intel Corp. (NASDAQ:INTC)‘s stock had its “underweight” rating restated by investment analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday. They currently have a $34.00 price target on the chip maker’s stock. Morgan Stanley’s price objective suggests a potential downside of 8.50% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Wells Fargo & Co. restated a “buy” rating on shares of Intel Corp. in a research report on Wednesday, June 8th. Vetr downgraded Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $34.92 price target on the stock. in a research report on Wednesday, June 8th. Sterne Agee CRT restated a “buy” rating and set a $38.00 price target on shares of Intel Corp. in a research report on Tuesday, May 31st. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, June 21st. Finally, Argus restated a “buy” rating and set a $41.00 price target on shares of Intel Corp. in a research report on Wednesday, June 29th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $39.01.
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 50 day moving average price of $35.47 and a 200-day moving average price of $32.89. The firm has a market capitalization of $175.80 billion, a P/E ratio of 18.02 and a beta of 0.93.
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Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. During the same quarter last year, the business posted $0.55 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Intel Corp. will post $2.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In other Intel Corp. news, VP Gregory R. Pearson sold 250,192 shares of Intel Corp. stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the transaction, the vice president now directly owns 92,826 shares of the company’s stock, valued at $3,388,149. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 71,413 shares of Intel Corp. stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $32.73, for a total transaction of $2,337,347.49. Following the transaction, the chief executive officer now directly owns 435,796 shares in the company, valued at $14,263,603.08. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several large investors have recently added to or reduced their stakes in INTC. Vanguard Group Inc. increased its stake in Intel Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 299,534,545 shares of the chip maker’s stock worth $9,824,733,000 after buying an additional 5,697,051 shares during the period. Capital World Investors increased its stake in Intel Corp. by 5.1% in the second quarter. Capital World Investors now owns 167,047,690 shares of the chip maker’s stock worth $5,479,164,000 after buying an additional 8,095,076 shares during the period. Capital Research Global Investors increased its stake in Intel Corp. by 4.8% in the second quarter. Capital Research Global Investors now owns 103,104,372 shares of the chip maker’s stock worth $3,381,823,000 after buying an additional 4,719,872 shares during the period. Dimensional Fund Advisors LP increased its stake in Intel Corp. by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 45,685,548 shares of the chip maker’s stock worth $1,498,217,000 after buying an additional 8,662,708 shares during the period. Finally, Geode Capital Management LLC increased its stake in Intel Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 44,204,897 shares of the chip maker’s stock worth $1,427,513,000 after buying an additional 2,414,858 shares during the period. 64.77% of the stock is currently owned by institutional investors and hedge funds.
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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