Canaccord Genuity Lowers Intel Corp. (INTC) Price Target to $43.00
Intel Corp. (NASDAQ:INTC) had its price objective decreased by equities research analysts at Canaccord Genuity from $44.00 to $43.00 in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the chip maker’s stock. Canaccord Genuity’s price objective suggests a potential upside of 13.91% from the stock’s current price.
INTC has been the topic of a number of other research reports. Citigroup Inc. restated a “neutral” rating and set a $35.00 target price (up previously from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Intel Corp. in a research report on Thursday, July 21st. BNP Paribas set a $37.00 price target on shares of Intel Corp. and gave the stock a “neutral” rating in a research report on Friday, July 22nd. Argus reiterated a “buy” rating and set a $41.00 price target on shares of Intel Corp. in a research report on Monday, July 25th. Finally, Vetr lowered shares of Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $41.20 price target on the stock. in a research report on Wednesday, October 12th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-four have assigned a buy rating to the stock. Intel Corp. currently has an average rating of “Buy” and a consensus price target of $39.88.
Intel Corp. (NASDAQ:INTC) opened at 35.94 on Wednesday. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36. The company has a market cap of $170.03 billion, a PE ratio of 17.43 and a beta of 1.09. The company has a 50-day moving average of $36.98 and a 200 day moving average of $33.74.
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Intel Corp. (NASDAQ:INTC) last announced its earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.08. 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 analyst estimates of $15.58 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that Intel Corp. will post $2.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued 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 dividend yield of 2.75%. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
In related news, Chairman Andy D. Bryant sold 445,095 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now owns 399,557 shares in the company, valued at $13,860,632.33. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gregory R. Pearson sold 1,506 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $34.46, for a total value of $51,896.76. Following the completion of the sale, 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. Insiders own 0.09% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Global X Management Co. LLC raised its stake 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. Carnick & Kubik LLC purchased a new stake in shares of Intel Corp. during the first quarter worth approximately $100,000. Penserra Capital Management LLC raised its stake 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. Proficio Capital Partners LLC raised its stake 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. Finally, Nelson Roberts Investment Advisors LLC raised its stake 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. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Intel Corp. Company Profile
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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