Intel Corp. (INTC) Price Target Raised to $35.00 at Morgan Stanley
Intel Corp. (NASDAQ:INTC) had its price objective increased by stock analysts at Morgan Stanley from $34.00 to $35.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “underweight” rating on the chip maker’s stock. Morgan Stanley’s price target suggests a potential downside of 7.28% from the company’s previous close.
A number of other research firms have also commented on INTC. B. Riley reaffirmed a “buy” rating and set a $42.00 target price on shares of Intel Corp. in a report on Wednesday, August 17th. Robert W. Baird lifted their target price on shares of Intel Corp. from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, September 19th. Brean Capital reaffirmed a “buy” rating and set a $40.00 target price (up previously from $38.00) on shares of Intel Corp. in a report on Thursday, September 22nd. Zacks Investment Research raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Monday, September 26th. Finally, Nomura set a $40.00 target price on shares of Intel Corp. and gave the stock a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.91.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.75 on Wednesday. The stock has a market cap of $178.60 billion, a price-to-earnings ratio of 18.31 and a beta of 1.09. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36. The stock has a 50 day moving average price of $36.98 and a 200-day moving average price of $33.74.
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Intel Corp. (NASDAQ:INTC) last posted its earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company earned $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. Intel Corp.’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Intel Corp. will post $2.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.75%. Intel Corp.’s dividend payout ratio is presently 50.24%.
In other news, VP Gregory R. Pearson sold 250,192 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total value of $9,132,008.00. Following the completion of the sale, the vice president now owns 92,826 shares of the company’s stock, valued at approximately $3,388,149. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Day & Ennis LLC boosted its stake in shares of Intel Corp. by 0.4% in the second quarter. Day & Ennis LLC now owns 7,459 shares of the chip maker’s stock worth $245,000 after buying an additional 27 shares during the period. Chelsea Counsel Company raised its stake in Intel Corp. by 0.3% in the third quarter. Chelsea Counsel Company now owns 11,312 shares of the chip maker’s stock worth $341,000 after buying an additional 33 shares in the last quarter. D. Scott Neal Inc. raised its stake in Intel Corp. by 0.7% in the second quarter. D. Scott Neal Inc. now owns 4,969 shares of the chip maker’s stock worth $163,000 after buying an additional 35 shares in the last quarter. Amarillo National Bank raised its stake in Intel Corp. by 0.3% in the first quarter. Amarillo National Bank now owns 14,739 shares of the chip maker’s stock worth $477,000 after buying an additional 37 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. raised its stake in Intel Corp. by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 4,496 shares of the chip maker’s stock worth $147,000 after buying an additional 37 shares in 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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