Robert W. Baird Reaffirms “Outperform” Rating for Intel Corporation (NASDAQ:INTC)
Intel Corporation (NASDAQ:INTC)‘s stock had its “outperform” rating restated by equities researchers at Robert W. Baird in a report released on Thursday. They currently have a $42.00 price objective on the chip maker’s stock. Robert W. Baird’s price target suggests a potential upside of 21.11% from the company’s current price.
A number of other brokerages have also weighed in on INTC. Jefferies Group LLC lowered shares of Intel Corporation to a “hold” rating and lifted their price target for the company from $36.00 to $38.00 in a report on Friday, April 28th. B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Intel Corporation in a report on Friday, April 28th. Sanford C. Bernstein reiterated a “sell” rating and issued a $30.00 price target on shares of Intel Corporation in a report on Tuesday, May 2nd. Canaccord Genuity reiterated a “hold” rating on shares of Intel Corporation in a report on Saturday, June 3rd. Finally, Zacks Investment Research lowered shares of Intel Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Intel Corporation has an average rating of “Buy” and a consensus price target of $40.09.
Shares of Intel Corporation (INTC) traded up 1.29% during mid-day trading on Thursday, reaching $34.68. The company’s stock had a trading volume of 16,316,353 shares. The firm’s 50 day moving average price is $35.45 and its 200-day moving average price is $36.07. The company has a market capitalization of $163.31 billion, a price-to-earnings ratio of 15.01 and a beta of 1.00. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, April 27th. The chip maker reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $14.80 billion. Intel Corporation had a net margin of 18.57% and a return on equity of 21.48%. Intel Corporation’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $0.54 EPS. On average, analysts predict that Intel Corporation will post $2.86 EPS for the current year.
In related news, insider Diane M. Bryant sold 2,119 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $36.96, for a total transaction of $78,318.24. Following the transaction, the insider now directly owns 107,285 shares of the company’s stock, valued at $3,965,253.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the transaction, the chief executive officer now directly owns 534,746 shares in the company, valued at $18,015,592.74. The disclosure for this sale can be found here. Insiders have sold 119,994 shares of company stock worth $4,166,359 over the last ninety days. 0.09% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Watermark Asset Management Inc. bought a new position in shares of Intel Corporation during the first quarter worth approximately $113,000. Orrstown Financial Services Inc. increased its position in shares of Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares during the last quarter. Vigilant Capital Management LLC increased its position in shares of Intel Corporation by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after buying an additional 805 shares during the last quarter. Finally, Security Asset Management bought a new position in shares of Intel Corporation during the fourth quarter worth approximately $162,000. 67.28% of the stock is currently owned by hedge funds and other institutional investors.
Intel Corporation Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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