Intel Corp. (INTC) Given New $37.00 Price Target at Royal Bank Of Canada
Intel Corp. (NASDAQ:INTC) had its price objective decreased by equities researchers at Royal Bank Of Canada from $38.00 to $37.00 in a research report issued on Wednesday. The firm presently has a “sector perform” rating on the chip maker’s stock. Royal Bank Of Canada’s target price indicates a potential downside of 1.99% from the stock’s previous close.
INTC has been the subject of several other reports. Zacks Investment Research raised Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Monday, September 26th. Vetr cut Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 target price for the company. in a research note on Monday, August 29th. Wells Fargo & Co. reissued a “buy” rating on shares of Intel Corp. in a research note on Sunday, September 4th. BlueFin Research reissued a “buy” rating on shares of Intel Corp. in a research note on Monday, October 3rd. Finally, Morgan Stanley reissued an “underweight” rating and set a $31.00 target price on shares of Intel Corp. in a research note on Wednesday, September 14th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.02.
Intel Corp. (NASDAQ:INTC) opened at 37.75 on Wednesday. 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 one year low of $27.68 and a one year high of $38.36. The firm has a market capitalization of $178.60 billion, a price-to-earnings ratio of 18.31 and a beta of 1.09.
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Intel Corp. (NASDAQ:INTC) last released its earnings results on Tuesday, October 18th. The chip maker reported $0.80 EPS for the quarter, topping the Thomson Reuters’ 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 firm earned $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the previous year, the firm posted $0.64 EPS. Intel Corp.’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts predict that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
In other Intel Corp. news, VP Gregory R. Pearson sold 1,506 shares of Intel Corp. stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the sale, the vice president now owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of Intel Corp. stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $34.71, for a total transaction of $485,835.87. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several large investors have recently modified their holdings of INTC. James Investment Research Inc. raised its stake in Intel Corp. by 12.8% in the second quarter. James Investment Research Inc. now owns 661,825 shares of the chip maker’s stock valued at $21,708,000 after buying an additional 75,124 shares during the last quarter. Park National Corp OH raised its stake in Intel Corp. by 2.7% in the second quarter. Park National Corp OH now owns 813,717 shares of the chip maker’s stock valued at $26,689,000 after buying an additional 21,481 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Intel Corp. by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,796,286 shares of the chip maker’s stock valued at $58,917,000 after buying an additional 89,568 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Intel Corp. during the first quarter valued at about $132,302,000. Finally, CIBC World Markets Inc. raised its stake in Intel Corp. by 14.2% in the second quarter. CIBC World Markets Inc. now owns 532,676 shares of the chip maker’s stock valued at $17,472,000 after buying an additional 66,041 shares during the last quarter. 64.82% of the stock is owned by institutional investors.
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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