Intel Corp. (INTC) Rating Reiterated by Wells Fargo & Co.
Intel Corp. (NASDAQ:INTC)‘s stock had its “outperform” rating reiterated by research analysts at Wells Fargo & Co. in a research report issued on Monday. They presently have a $45.00 price target on the chip maker’s stock. Wells Fargo & Co.’s target price would indicate a potential upside of 20.16% from the company’s current price.
INTC has been the subject of several other research reports. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $26.00 price target on shares of Intel Corp. in a research note on Monday, June 20th. Zacks Investment Research raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, June 21st. Vetr downgraded shares of Intel Corp. from a “buy” rating to a “hold” rating and set a $32.02 price target for the company. in a research note on Wednesday, June 22nd. Argus reaffirmed a “buy” rating and set a $41.00 price target on shares of Intel Corp. in a research note on Wednesday, June 29th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $35.00 price target (up previously from $31.00) on shares of Intel Corp. in a research note on Thursday, June 30th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.73.
Intel Corp. (NASDAQ:INTC) traded down 0.08% during midday trading on Monday, reaching $37.42. 5,773,773 shares of the company traded hands. The company has a 50 day moving average of $36.86 and a 200-day moving average of $33.65. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36. The stock has a market capitalization of $177.03 billion, a P/E ratio of 18.15 and a beta of 1.09.
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Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data 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. The business earned $13.50 billion during the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. Equities analysts anticipate that Intel Corp. will post $2.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In other news, CEO Brian M. Krzanich sold 67,508 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $37.71, for a total value of $2,545,726.68. Following the transaction, the chief executive officer now owns 420,506 shares in the company, valued at approximately $15,857,281.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the transaction, the vice president now owns 84,505 shares in the company, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Intel Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 299,534,545 shares of the chip maker’s stock valued at $9,824,733,000 after buying an additional 5,697,051 shares during the period. Capital World Investors boosted its position in shares of Intel Corp. by 5.1% in the second quarter. Capital World Investors now owns 167,047,690 shares of the chip maker’s stock valued at $5,479,164,000 after buying an additional 8,095,076 shares during the period. Capital Research Global Investors boosted its position in shares of Intel Corp. by 4.8% in the second quarter. Capital Research Global Investors now owns 103,104,372 shares of the chip maker’s stock valued at $3,381,823,000 after buying an additional 4,719,872 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Intel Corp. by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 45,685,548 shares of the chip maker’s stock valued at $1,498,217,000 after buying an additional 8,662,708 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Intel Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 44,204,897 shares of the chip maker’s stock valued at $1,427,513,000 after buying an additional 2,414,858 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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