Deutsche Bank AG Reiterates Buy Rating for Intel Corp. (INTC)
Intel Corp. (NASDAQ:INTC)‘s stock had its “buy” rating reissued by analysts at Deutsche Bank AG in a report released on Wednesday. They currently have a $42.00 price objective on the chip maker’s stock. Deutsche Bank AG’s target price suggests a potential upside of 11.26% from the stock’s current price.
INTC has been the topic of several other research reports. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Monday, September 26th. Vetr downgraded Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 target price on the stock. in a research report on Monday, August 29th. Wells Fargo & Co. restated a “buy” rating on shares of Intel Corp. in a research report on Sunday, September 4th. BlueFin Research restated a “buy” rating on shares of Intel Corp. in a research report on Monday, October 3rd. Finally, Morgan Stanley restated an “underweight” rating and set a $31.00 target price on shares of Intel Corp. in a research report on Wednesday, September 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $39.91.
Intel Corp. (NASDAQ:INTC) traded down 5.9870% during midday trading on Wednesday, hitting $35.4899. The company had a trading volume of 34,479,864 shares. The firm’s 50 day moving average is $36.98 and its 200-day moving average is $33.74. Intel Corp. has a 52 week low of $27.68 and a 52 week high of $38.36. The firm has a market capitalization of $167.90 billion, a P/E ratio of 17.2114 and a beta of 1.09.
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Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings data on Tuesday, October 18th. The chip maker reported $0.80 EPS for the quarter, beating the 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 business had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. Intel Corp.’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts expect that Intel Corp. will post $2.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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 dividend on an annualized basis and a yield of 2.75%. Intel Corp.’s payout ratio is 50.24%.
In other Intel Corp. news, VP Gregory R. Pearson sold 250,192 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the transaction, the vice president now owns 92,826 shares in the company, valued at approximately $3,388,149. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were 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 owns 420,506 shares in the company, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Montrusco Bolton Investments Inc. bought a new position in shares of Intel Corp. during the third quarter worth about $206,000. Reinhart Partners Inc. bought a new position in shares of Intel Corp. during the third quarter worth about $406,000. DAVENPORT & Co LLC raised its position in shares of Intel Corp. by 2.7% in the third quarter. DAVENPORT & Co LLC now owns 176,852 shares of the chip maker’s stock worth $6,676,000 after buying an additional 4,568 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in shares of Intel Corp. by 2.1% in the third quarter. Farmers & Merchants Investments Inc. now owns 291,635 shares of the chip maker’s stock worth $11,009,000 after buying an additional 5,952 shares during the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC bought a new position in shares of Intel Corp. during the third quarter worth about $242,000. Institutional investors and hedge funds 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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