Intel Corp.’s (INTC) “Sector Perform” Rating Reiterated at RBC Capital Markets
Intel Corp. (NASDAQ:INTC)‘s stock had its “sector perform” rating restated by equities researchers at RBC Capital Markets in a research note issued to investors on Wednesday. They currently have a $37.00 target price on the chip maker’s stock. RBC Capital Markets’ price objective would suggest a potential downside of 1.99% from the stock’s previous close.
A number of other equities analysts have also weighed in on INTC. B. Riley reiterated a “buy” rating and issued a $42.00 price objective on shares of Intel Corp. in a research report on Wednesday, August 17th. Robert W. Baird lifted their price objective on shares of Intel Corp. from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 19th. Brean Capital reiterated a “buy” rating and issued a $40.00 price objective (up from $38.00) on shares of Intel Corp. in a research report on Thursday, September 22nd. Zacks Investment Research upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Monday, September 26th. Finally, Nomura set a $40.00 price objective on shares of Intel Corp. and gave the company a “buy” rating in a research report on Wednesday. Three investment 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’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $39.91.
Intel Corp. (NASDAQ:INTC) traded down 5.690% during midday trading on Wednesday, hitting $35.602. 26,737,759 shares of the stock traded hands. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36. The company’s 50-day moving average is $36.98 and its 200 day moving average is $33.74. The firm has a market cap of $168.43 billion, a P/E ratio of 17.266 and a beta of 1.09.
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Intel Corp. (NASDAQ:INTC) last announced its earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The business had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. On average, analysts anticipate that Intel Corp. will post $2.58 EPS for the current fiscal year.
The business 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 of this dividend 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 other Intel Corp. news, VP Gregory R. Pearson sold 1,506 shares of Intel Corp. stock in a transaction 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 completion of the transaction, the vice president now owns 84,505 shares in the company, valued at approximately $2,912,042.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of Intel Corp. stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $37.71, for a total value of $2,545,726.68. Following the completion of the transaction, the chief executive officer now 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. Corporate insiders own 0.09% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Montrusco Bolton Investments Inc. acquired a new position in shares of Intel Corp. during the third quarter valued at about $206,000. Reinhart Partners Inc. acquired a new position in shares of Intel Corp. during the third quarter valued at about $406,000. DAVENPORT & Co LLC increased 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 valued at $6,676,000 after buying an additional 4,568 shares during the last quarter. Farmers & Merchants Investments Inc. increased 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 valued at $11,009,000 after buying an additional 5,952 shares during the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC acquired a new position in shares of Intel Corp. during the third quarter valued at about $242,000. Hedge funds and other institutional investors 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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