Intel Corp. (INTC) Rating Lowered to Buy at Vetr Inc.
Intel Corp. (NASDAQ:INTC) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. They presently have a $41.20 price target on the chip maker’s stock. Vetr‘s price target indicates a potential upside of 10.96% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Pacific Crest reissued a “buy” rating and set a $44.00 price target on shares of Intel Corp. in a research note on Thursday, October 6th. BlueFin Research reissued a “buy” rating on shares of Intel Corp. in a research note on Monday, October 3rd. KeyCorp increased their price target on shares of Intel Corp. from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 3rd. RBC Capital Markets reissued a “sector perform” rating and set a $38.00 price target on shares of Intel Corp. in a research note on Monday, September 26th. Finally, Zacks Investment Research raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $39.64.
Intel Corp. (NASDAQ:INTC) traded down 0.38% during trading on Wednesday, reaching $37.13. 14,053,888 shares of the company’s stock traded hands. The company has a market cap of $175.66 billion, a P/E ratio of 18.01 and a beta of 1.09. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.36. The firm’s 50 day moving average is $36.74 and its 200 day moving average is $33.59.
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Intel Corp. (NASDAQ:INTC) last released its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The business had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. Intel Corp.’s revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Intel Corp. will post $2.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.80%. Intel Corp.’s payout ratio is currently 50.24%.
In related news, CFO Stacy J. Smith sold 29,497 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the completion of the transaction, the chief financial officer now owns 263,772 shares in the company, valued at $9,092,220.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian M. Krzanich sold 67,508 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the transaction, the chief executive officer now owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Carnick & Kubik LLC acquired a new position in shares of Intel Corp. during the first quarter worth $100,000. Global X Management Co. LLC raised its position 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 in the last quarter. Penserra Capital Management LLC raised its position 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 in the last quarter. Nelson Roberts Investment Advisors LLC raised its position 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 in the last quarter. Finally, Proficio Capital Partners LLC raised its position 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 in the last quarter. Institutional investors 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.
To view Vetr’s full report, visit Vetr’s official website.
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