Intel Corp. (INTC) Rating Increased to Strong-Buy at Vetr Inc.
Intel Corp. (NASDAQ:INTC) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday. The brokerage currently has a $41.98 price objective on the chip maker’s stock. Vetr‘s price target points to a potential upside of 12.64% from the company’s current price.
Other analysts have also issued reports about the stock. Argus reiterated a “buy” rating and issued a $41.00 price target on shares of Intel Corp. in a research note on Wednesday, June 29th. Zacks Investment Research upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, June 21st. Canaccord Genuity boosted their target price on shares of Intel Corp. from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, July 18th. Brean Capital boosted their target price on shares of Intel Corp. from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, July 18th. Finally, Nomura restated a “buy” rating and set a $35.00 target price on shares of Intel Corp. in a research report on Tuesday, July 19th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. Intel Corp. presently has an average rating of “Buy” and an average target price of $39.66.
Intel Corp. (NASDAQ:INTC) traded down 1.97% during mid-day trading on Tuesday, hitting $37.27. 27,650,460 shares of the stock traded hands. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.36. The company’s 50 day moving average is $36.69 and its 200 day moving average is $33.56. The company has a market cap of $176.32 billion, a P/E ratio of 18.07 and a beta of 1.09.
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Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The firm earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts expect that Intel Corp. will post $2.58 earnings per share 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 given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.79%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is currently 50.24%.
In other Intel Corp. news, CEO Brian M. Krzanich sold 67,508 shares of Intel Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $37.71, for a total value of $2,545,726.68. Following the completion of the transaction, the chief executive officer now directly owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Stacy J. Smith sold 29,497 shares of Intel Corp. stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.47, for a total value of $1,016,761.59. Following the completion of the transaction, the chief financial officer now directly owns 263,772 shares of the company’s stock, valued at $9,092,220.84. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in INTC. Private Trust Co. NA increased its position in Intel Corp. by 4.2% in the first quarter. Private Trust Co. NA now owns 39,344 shares of the chip maker’s stock valued at $1,272,000 after buying an additional 1,582 shares in the last quarter. Gibraltar Capital Management Inc. increased its position in Intel Corp. by 10.5% in the first quarter. Gibraltar Capital Management Inc. now owns 126,274 shares of the chip maker’s stock valued at $4,085,000 after buying an additional 12,045 shares in the last quarter. Oliver Luxxe Assets LLC increased its position in Intel Corp. by 0.3% in the first quarter. Oliver Luxxe Assets LLC now owns 49,307 shares of the chip maker’s stock valued at $1,595,000 after buying an additional 126 shares in the last quarter. Peddock Capital Advisors LLC increased its position in Intel Corp. by 1.1% in the first quarter. Peddock Capital Advisors LLC now owns 25,443 shares of the chip maker’s stock valued at $823,000 after buying an additional 281 shares in the last quarter. Finally, FirstMerit Bank N A Trustee increased its position in Intel Corp. by 9.0% in the first quarter. FirstMerit Bank N A Trustee now owns 123,652 shares of the chip maker’s stock valued at $4,000,000 after buying an additional 10,233 shares in the last quarter. 64.77% of the stock is owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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