Intel Corp.’s (INTC) Buy Rating Reiterated at B. Riley
Intel Corp. (NASDAQ:INTC)‘s stock had its “buy” rating reissued by analysts at B. Riley in a research report issued on Wednesday. They presently have a $45.00 price objective on the chip maker’s stock. B. Riley’s price objective points to a potential upside of 20.16% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada restated a “hold” rating on shares of Intel Corp. in a report on Saturday, July 9th. Robert W. Baird raised their target price on shares of Intel Corp. from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, September 6th. Cowen and Company raised their target price on shares of Intel Corp. from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, September 16th. Citigroup Inc. restated a “neutral” rating and issued a $35.00 target price (up previously from $31.00) on shares of Intel Corp. in a report on Thursday, June 30th. Finally, Vetr cut shares of Intel Corp. from a “buy” rating to a “hold” rating and set a $32.02 target price on the stock. in a report on Wednesday, June 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $39.01.
Intel Corp. (NASDAQ:INTC) traded up 0.83% during mid-day trading on Wednesday, reaching $37.45. The company’s stock had a trading volume of 21,230,189 shares. The company has a market cap of $177.18 billion, a price-to-earnings ratio of 18.16 and a beta of 0.93. The firm has a 50 day moving average price of $35.53 and a 200 day moving average price of $32.94. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.05.
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Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. The firm earned $13.50 billion during the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. Equities research analysts anticipate that Intel Corp. will post $2.57 earnings per share for the current year.
The business also recently disclosed 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 2.78%. Intel Corp.’s payout ratio is currently 50.24%.
In related news, Chairman Andy D. Bryant sold 445,095 shares of Intel Corp. stock in a transaction on Monday, July 25th. The shares were sold at an average price of $34.69, for a total value of $15,440,345.55. Following the transaction, the chairman now directly owns 399,557 shares in the company, valued at approximately $13,860,632.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gregory R. Pearson sold 1,506 shares of Intel Corp. stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the transaction, the vice president now owns 84,505 shares in the company, valued at $2,912,042.30. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several large investors have recently modified their holdings of the company. Norges Bank purchased a new position in Intel Corp. during the fourth quarter valued at about $1,565,171,000. Agran Libbie increased its position in Intel Corp. by 9,807.2% in the fourth quarter. Agran Libbie now owns 23,731,244 shares of the chip maker’s stock valued at $8,175,000 after buying an additional 23,491,708 shares during the period. Capital World Investors increased its position in Intel Corp. by 8.0% in the fourth quarter. Capital World Investors now owns 140,063,413 shares of the chip maker’s stock valued at $4,825,185,000 after buying an additional 10,415,210 shares during the period. Emerald Acquisition Ltd. purchased a new position in Intel Corp. during the second quarter valued at about $295,226,000. Finally, Dimensional Fund Advisors LP increased its position 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 valued at $1,498,217,000 after buying an additional 8,662,708 shares during the period. Institutional investors own 64.77% of the company’s stock.
Intel Corp. Company Profile
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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