Intel Corp. (INTC) Downgraded by Vetr Inc. to Buy
Intel Corp. (NASDAQ:INTC) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday. They currently have a $41.20 price target on the chip maker’s stock. Vetr‘s target price points to a potential upside of 10.96% from the company’s previous close.
A number of other brokerages have also weighed in on INTC. B. Riley reiterated a “buy” rating and set a $42.00 target price on shares of Intel Corp. in a research report on Wednesday, August 17th. Robert W. Baird raised their price objective on shares of Intel Corp. from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 19th. Brean Capital restated a “buy” rating and issued a $40.00 price objective (up from $38.00) on shares of Intel Corp. in a research report on Thursday, September 22nd. Zacks Investment Research upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Monday, September 26th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $35.00 price objective on shares of Intel Corp. in a research report on Wednesday, August 17th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $39.64.
Intel Corp. (NASDAQ:INTC) traded down 0.38% during midday trading on Wednesday, reaching $37.13. 14,053,888 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $36.74 and a 200-day moving average of $33.59. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.36. The stock has a market cap of $175.66 billion, a PE ratio of 18.01 and a beta of 1.09.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/intel-corp-intc-downgraded-by-vetr-inc-to-buy.html
Intel Corp. (NASDAQ:INTC) last issued its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The firm earned $13.50 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. On average, equities research analysts predict that Intel Corp. will post $2.58 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.80%. Intel Corp.’s dividend payout ratio is currently 50.24%.
In related news, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the sale, the vice president now owns 84,505 shares of the company’s stock, valued at $2,912,042.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stacy J. Smith sold 29,497 shares of the firm’s 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 sale, the chief financial officer now directly owns 263,772 shares in the company, valued at approximately $9,092,220.84. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
A number of large investors have recently modified their holdings of INTC. Stokes & Hubbell Capital Management LLC increased its stake in shares of Intel Corp. by 7.1% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 63,191 shares of the chip maker’s stock valued at $2,044,000 after buying an additional 4,194 shares in the last quarter. Moreno Evelyn V increased its stake in shares of Intel Corp. by 7.4% in the first quarter. Moreno Evelyn V now owns 160,512 shares of the chip maker’s stock valued at $5,192,000 after buying an additional 11,064 shares in the last quarter. Rosenbaum Jay D. increased its stake in shares of Intel Corp. by 5.1% in the first quarter. Rosenbaum Jay D. now owns 62,815 shares of the chip maker’s stock valued at $2,032,000 after buying an additional 3,037 shares in the last quarter. City Holding Co. increased its stake in shares of Intel Corp. by 1.1% in the first quarter. City Holding Co. now owns 83,942 shares of the chip maker’s stock valued at $2,715,000 after buying an additional 940 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in shares of Intel Corp. by 33.3% in the first quarter. Carroll Financial Associates Inc. now owns 23,944 shares of the chip maker’s stock valued at $774,000 after buying an additional 5,978 shares in the last quarter. 64.77% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Intel Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel Corp. and related companies with MarketBeat.com's FREE daily email newsletter.