Intel Corp. to Post Q3 2016 Earnings of $0.72 Per Share, Jefferies Group Forecasts (INTC)
Intel Corp. (NASDAQ:INTC) – Equities researchers at Jefferies Group upped their Q3 2016 EPS estimates for Intel Corp. in a research note issued on Monday. Jefferies Group analyst M. Lipacis now forecasts that the brokerage will earn $0.72 per share for the quarter, up from their previous estimate of $0.66. Jefferies Group currently has a “Buy” rating and a $49.00 target price on the stock. Jefferies Group also issued estimates for Intel Corp.’s FY2017 earnings at $3.26 EPS.
Several other analysts have also weighed in on INTC. Sanford C. Bernstein set a $26.00 price objective on Intel Corp. and gave the company a “sell” rating in a report on Monday, May 30th. Sterne Agee CRT restated a “buy” rating and issued a $38.00 price objective on shares of Intel Corp. in a report on Tuesday, May 31st. Vetr lowered Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $34.92 price objective for the company. in a report on Wednesday, June 8th. Wells Fargo & Co. restated a “buy” rating on shares of Intel Corp. in a report on Wednesday, June 8th. Finally, Pacific Crest raised Intel Corp. to an “outperform” rating in a report on Monday, June 13th. Three 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 company. The company presently has an average rating of “Buy” and an average price target of $39.01.
Intel Corp. (NASDAQ:INTC) traded down 0.606% during trading on Wednesday, hitting $36.915. The stock had a trading volume of 8,434,098 shares. The company has a market cap of $174.64 billion, a P/E ratio of 17.903 and a beta of 0.93. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.05. The company has a 50 day moving average of $35.54 and a 200-day moving average of $32.94.
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Intel Corp. (NASDAQ:INTC) last released its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.06. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a $0.26 dividend. 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 50.24%.
In related news, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the completion of the sale, the vice president now directly owns 84,505 shares in the company, valued at $2,912,042.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andy D. Bryant sold 445,095 shares of the 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 completion of 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. 0.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Carnick & Kubik LLC acquired a new stake in shares of Intel Corp. during the first quarter worth $100,000. Global X Management Co. LLC increased its stake in shares of 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 last quarter. Penserra Capital Management LLC increased its stake in shares of 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 last quarter. Nelson Roberts Investment Advisors LLC increased its stake in shares of 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 last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of 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 last quarter. Institutional investors and hedge funds 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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