Canaccord Genuity Trims Intel Corp. (INTC) Target Price to $43.00
Intel Corp. (NASDAQ:INTC) had its target price reduced by analysts at Canaccord Genuity from $44.00 to $43.00 in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the chip maker’s stock. Canaccord Genuity’s price objective points to a potential upside of 13.91% from the company’s previous close.
A number of other research analysts have also recently issued reports on INTC. Charter Equity upgraded Intel Corp. from a “market perform” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley lifted their target price on Intel Corp. from $34.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday. Nomura set a $40.00 target price on Intel Corp. and gave the company a “buy” rating in a research report on Wednesday. Jefferies Group set a $46.00 target price on Intel Corp. and gave the company a “buy” rating in a research report on Wednesday. Finally, BNP Paribas set a $36.00 target price on Intel Corp. and gave the company a “neutral” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $39.88.
Shares of Intel Corp. (NASDAQ:INTC) opened at 35.9639 on Wednesday. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.36. The firm has a market capitalization of $170.15 billion, a P/E ratio of 17.4413 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 issued its quarterly earnings results on Tuesday, October 18th. The chip maker reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.08. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter last year, the business earned $0.64 earnings per share. Intel Corp.’s revenue was up 9.1% on a year-over-year basis. Analysts predict that Intel Corp. will post $2.58 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date 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 presently 50.24%.
In related news, CEO Brian M. Krzanich sold 67,508 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the transaction, the chief executive officer now directly owns 420,506 shares in the company, valued at approximately $15,857,281.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction that occurred 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 owns 84,505 shares in the company, valued at $2,912,042.30. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in 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 last quarter. Capital World Investors raised its position in 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 last quarter. Capital Research Global Investors raised its position in 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 last quarter. Dimensional Fund Advisors LP raised its position in 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 last quarter. Finally, Geode Capital Management LLC raised its position in 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 last quarter. Institutional investors and hedge funds 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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