Intel Corp. (INTC) Given a $35.00 Price Target at Morgan Stanley
Intel Corp. (NASDAQ:INTC) received a $35.00 price target from stock analysts at Morgan Stanley in a note issued to investors on Wednesday. The brokerage presently has a a “sell” rating on the chip maker’s stock. Morgan Stanley’s price target indicates a potential downside of 7.28% from the stock’s previous close.
A number of other brokerages also recently weighed in on INTC. Pacific Crest restated a “buy” rating and issued a $44.00 target price on shares of Intel Corp. in a research note on Thursday, October 6th. KeyCorp boosted their target price on Intel Corp. from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, October 3rd. BlueFin Research restated a “buy” rating on shares of Intel Corp. in a research note on Monday, October 3rd. Citigroup Inc. cut their target price on Intel Corp. from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Goldman Sachs Group Inc. set a $36.00 target price on Intel Corp. and gave the stock a “neutral” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-four have given a buy rating to the company’s stock. Intel Corp. currently has a consensus rating of “Buy” and an average target price of $39.91.
Shares of Intel Corp. (NASDAQ:INTC) traded down 6.12% during midday trading on Wednesday, reaching $35.44. The company had a trading volume of 35,135,292 shares. The firm has a market capitalization of $167.67 billion, a P/E ratio of 17.19 and a beta of 1.09. Intel Corp. has a one year low of $27.68 and a one year high of $38.36. The company has a 50 day moving average price of $36.98 and a 200-day moving average price of $33.74.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/morgan-stanley-increases-intel-corp-intc-price-target-to-35-00.html
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. 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. 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 currently 50.24%.
In other news, 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 value of $2,545,726.68. Following the completion of the sale, the chief executive officer now owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was 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 directly owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. 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 company. 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 valued at $245,000 after buying an additional 27 shares during the last quarter. D. Scott Neal Inc. boosted 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 during the last quarter. Jackson Grant Investment Advisers Inc. boosted 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 during the last quarter. Beaumont Financial Partners LLC boosted its stake in Intel Corp. by 0.6% in the second quarter. Beaumont Financial Partners LLC now owns 8,070 shares of the chip maker’s stock worth $265,000 after buying an additional 48 shares during the last quarter. Finally, Peoples Bank National Association boosted its stake in Intel Corp. by 0.5% in the second quarter. Peoples Bank National Association now owns 10,232 shares of the chip maker’s stock worth $335,000 after buying an additional 50 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Intel Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel Corp. and related companies with MarketBeat.com's FREE daily email newsletter.