Intel Corp.’s (INTC) “Outperform” Rating Reiterated at Wells Fargo & Co.
Intel Corp. (NASDAQ:INTC)‘s stock had its “outperform” rating restated by research analysts at Wells Fargo & Co. in a research note issued to investors on Monday. They presently have a $45.00 target price on the chip maker’s stock. Wells Fargo & Co.’s price objective would indicate a potential upside of 20.16% from the stock’s previous close.
Several other research firms have also weighed in on INTC. B. Riley reiterated a “buy” rating and set a $42.00 price objective on shares of Intel Corp. in a research note on Wednesday, August 17th. Robert W. Baird increased their price objective on shares of Intel Corp. from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, September 19th. Brean Capital restated a “buy” rating and issued a $40.00 target price (up previously 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 target price for the company in a research report on Monday, September 26th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $35.00 target price on shares of Intel Corp. in a research report on Wednesday, August 17th. Three 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.
Shares of Intel Corp. (NASDAQ:INTC) traded down 0.05% on Monday, reaching $37.43. 5,591,258 shares of the company’s stock were exchanged. The stock has a market cap of $177.08 billion, a P/E ratio of 18.15 and a beta of 1.09. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36. The company’s 50 day moving average price is $36.86 and its 200-day moving average price is $33.65.
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Intel Corp. (NASDAQ:INTC) last released its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.06. The firm had revenue of $13.50 billion for 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%. Intel Corp.’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. Equities analysts forecast that Intel Corp. will post $2.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
In other Intel Corp. news, CFO Stacy J. Smith sold 29,497 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 263,772 shares of the company’s stock, valued at $9,092,220.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the company’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 disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
A number of hedge funds have recently bought and sold shares of INTC. Wilbanks Smith & Thomas Asset Management LLC increased its position in Intel Corp. by 4.8% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 44,754 shares of the chip maker’s stock valued at $1,448,000 after buying an additional 2,039 shares in the last quarter. IMS Capital Management increased its position in Intel Corp. by 48.5% in the first quarter. IMS Capital Management now owns 63,965 shares of the chip maker’s stock valued at $2,069,000 after buying an additional 20,898 shares in the last quarter. PacWest Financial Management Inc increased its position in Intel Corp. by 13.2% in the first quarter. PacWest Financial Management Inc now owns 98,033 shares of the chip maker’s stock valued at $3,171,000 after buying an additional 11,451 shares in the last quarter. DAVENPORT & Co LLC increased its position in Intel Corp. by 6.1% in the first quarter. DAVENPORT & Co LLC now owns 163,973 shares of the chip maker’s stock valued at $5,305,000 after buying an additional 9,428 shares in the last quarter. Finally, Acropolis Investment Management LLC increased its position in Intel Corp. by 2.6% in the first quarter. Acropolis Investment Management LLC now owns 112,367 shares of the chip maker’s stock valued at $3,590,000 after buying an additional 2,890 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other 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.
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