Intel Corp. (INTC) Issues Earnings Results, Beats Expectations By $0.07 EPS
Intel Corp. (NASDAQ:INTC) posted its quarterly earnings data on Tuesday. The chip maker reported $0.80 earnings per share (EPS) 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 business earned $15.78 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year.
Intel Corp. (NASDAQ:INTC) traded down 5.603% during trading on Wednesday, reaching $35.635. The company’s stock had a trading volume of 63,716,721 shares. The stock has a market capitalization of $168.59 billion, a PE ratio of 17.282 and a beta of 1.09. The stock has a 50 day moving average price of $36.98 and a 200 day moving average price of $33.74. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.36.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.75%. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
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In other Intel Corp. news, VP Gregory R. Pearson sold 5,662 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $34.87, for a total transaction of $197,433.94. Following the transaction, the vice president now owns 86,635 shares of the company’s stock, valued at $3,020,962.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory R. Pearson sold 1,506 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the transaction, the vice president now directly owns 84,505 shares in the company, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in INTC. Carnick & Kubik LLC acquired a new position in shares of Intel Corp. during the first quarter valued at approximately $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 valued at $100,000 after buying an additional 1,039 shares during the period. 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 valued at $104,000 after buying an additional 847 shares during the period. 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 valued at $113,000 after buying an additional 1,226 shares during the period. 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 valued at $118,000 after buying an additional 1,998 shares during the period. 64.82% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on INTC. Royal Bank Of Canada restated a “hold” rating on shares of Intel Corp. in a report on Saturday, July 9th. B. Riley restated a “buy” rating and set a $42.00 price objective on shares of Intel Corp. in a report on Thursday, July 21st. Citigroup Inc. cut their target price on shares of Intel Corp. from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday. Goldman Sachs Group Inc. set a $36.00 target price on shares of Intel Corp. and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Canaccord Genuity cut their target price on shares of Intel Corp. from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-four have issued a buy rating to the company. Intel Corp. presently has a consensus rating of “Buy” and an average target price of $39.91.
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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