Intel Corp. (INTC) Given a $35.00 Price Target by Sanford C. Bernstein Analysts
Intel Corp. (NASDAQ:INTC) has been assigned a $35.00 price objective by analysts at Sanford C. Bernstein in a report released on Friday. The firm presently has a a “hold” rating on the chip maker’s stock. Sanford C. Bernstein’s price objective would indicate a potential downside of 7.28% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Monday, September 26th. Vetr downgraded shares of Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 price target on the stock. in a report on Monday, August 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Intel Corp. in a report on Sunday, September 4th. BlueFin Research reiterated a “buy” rating on shares of Intel Corp. in a report on Monday, October 3rd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $31.00 price target on shares of Intel Corp. in a report on Wednesday, September 14th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.91.
Intel Corp. (NASDAQ:INTC) traded down 5.56% during trading on Friday, hitting $35.65. 66,876,481 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 firm has a 50-day moving average price of $36.98 and a 200 day moving average price of $33.74. The firm has a market cap of $168.66 billion, a PE ratio of 17.29 and a beta of 1.09.
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Intel Corp. (NASDAQ:INTC) last posted its earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The firm had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the previous year, the firm posted $0.64 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Intel Corp. will post $2.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s payout ratio is currently 50.24%.
In related news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $34.71, for a total transaction of $485,835.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Andy D. Bryant sold 445,095 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $34.69, for a total value of $15,440,345.55. Following the transaction, the chairman now owns 399,557 shares in the company, valued at $13,860,632.33. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. James Investment Research Inc. boosted its position in shares of Intel Corp. by 12.8% in the second quarter. James Investment Research Inc. now owns 661,825 shares of the chip maker’s stock valued at $21,708,000 after buying an additional 75,124 shares during the period. Park National Corp OH boosted its position in shares of Intel Corp. by 2.7% in the second quarter. Park National Corp OH now owns 813,717 shares of the chip maker’s stock valued at $26,689,000 after buying an additional 21,481 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Intel Corp. by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,796,286 shares of the chip maker’s stock valued at $58,917,000 after buying an additional 89,568 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in shares of Intel Corp. during the first quarter valued at about $132,302,000. Finally, CIBC World Markets Inc. boosted its position in shares of Intel Corp. by 14.2% in the second quarter. CIBC World Markets Inc. now owns 532,676 shares of the chip maker’s stock valued at $17,472,000 after buying an additional 66,041 shares during the period. Hedge funds and other institutional investors own 64.82% 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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