Intel Corp. (INTC) Rating Reiterated by Nomura
Intel Corp. (NASDAQ:INTC)‘s stock had its “buy” rating restated by stock analysts at Nomura in a research report issued to clients and investors on Wednesday. They currently have a $40.00 price objective on the chip maker’s stock, down from their prior price objective of $42.00. Nomura’s target price suggests a potential upside of 13.80% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. Cowen and Company reissued a “market perform” rating and issued a $36.00 target price (up previously from $32.00) on shares of Intel Corp. in a research note on Monday, July 11th. Evercore ISI raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, September 6th. Vetr raised shares of Intel Corp. from a “buy” rating to a “strong-buy” rating and set a $41.44 price target for the company in a report on Monday, September 26th. Royal Bank Of Canada raised their price target on shares of Intel Corp. from $33.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, July 8th. Finally, Zacks Investment Research lowered shares of Intel Corp. from a “buy” rating to a “hold” rating in a report on Monday, September 5th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Intel Corp. currently has a consensus rating of “Buy” and an average price target of $39.91.
Shares of Intel Corp. (NASDAQ:INTC) traded down 0.79% during midday trading on Wednesday, reaching $35.15. 20,796,748 shares of the company were exchanged. The stock’s 50-day moving average price is $36.96 and its 200-day moving average price is $33.77. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36. The company has a market capitalization of $166.40 billion, a PE ratio of 16.49 and a beta of 1.09.
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Intel Corp. (NASDAQ:INTC) last issued its earnings results on Tuesday, October 18th. The chip maker reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.07. Intel Corp. had a net margin of 17.90% and a return on equity of 20.75%. The business had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that Intel Corp. will post $2.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is 49.06%.
In other Intel Corp. news, Chairman Andy D. Bryant sold 445,095 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $34.69, for a total transaction of $15,440,345.55. Following the completion of the sale, the chairman now owns 399,557 shares of the company’s stock, valued at approximately $13,860,632.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory R. Pearson sold 1,866 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $34.68, for a total value of $64,712.88. Following the sale, the vice president now directly owns 86,635 shares of the company’s stock, valued at approximately $3,004,501.80. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
A number of large investors have recently made changes to their positions in INTC. Carnick & Kubik LLC acquired a new stake in shares of Intel Corp. during the first quarter valued at about $100,000. Global X Management Co. LLC increased 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 valued at $100,000 after buying an additional 1,039 shares in the last quarter. Penserra Capital Management LLC increased 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 valued at $104,000 after buying an additional 847 shares in the last quarter. Nelson Roberts Investment Advisors LLC increased 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 valued at $113,000 after buying an additional 1,226 shares in the last quarter. Finally, Proficio Capital Partners LLC increased 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 valued at $118,000 after buying an additional 1,998 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.
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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