Intel Corporation (NASDAQ:INTC) Given Average Rating of “Hold” by Brokerages
Intel Corporation (NASDAQ:INTC) has been given an average recommendation of “Hold” by the forty-eight analysts that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $40.16.
INTC has been the topic of several recent research reports. Zacks Investment Research lowered Intel Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Needham & Company LLC restated a “buy” rating and set a $43.00 price target on shares of Intel Corporation in a report on Wednesday, July 12th. Bank of America Corporation lowered Intel Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $38.00 in a report on Wednesday, June 21st. BidaskClub lowered Intel Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Vetr lowered Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $39.43 price target on the stock. in a report on Monday, May 22nd.
In other news, CEO Brian M. Krzanich sold 72,173 shares of Intel Corporation stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total value of $2,431,508.37. Following the sale, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $35.47, for a total value of $496,438.12. Following the completion of the sale, the insider now directly owns 1,536 shares in the company, valued at $54,481.92. The disclosure for this sale can be found here. Insiders sold 90,497 shares of company stock worth $3,078,329 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Intel Corporation during the fourth quarter worth about $1,684,790,000. Legal & General Group Plc raised its stake in shares of Intel Corporation by 1.6% in the second quarter. Legal & General Group Plc now owns 25,508,803 shares of the chip maker’s stock worth $860,658,000 after buying an additional 412,747 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Intel Corporation by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 24,627,860 shares of the chip maker’s stock worth $830,944,000 after buying an additional 766,819 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Intel Corporation by 3.1% in the second quarter. Fisher Asset Management LLC now owns 20,791,355 shares of the chip maker’s stock worth $701,500,000 after buying an additional 623,698 shares in the last quarter. Finally, Sanders Capital LLC raised its stake in shares of Intel Corporation by 2.2% in the first quarter. Sanders Capital LLC now owns 14,736,874 shares of the chip maker’s stock worth $545,383,000 after buying an additional 316,800 shares in the last quarter. 67.50% of the stock is currently owned by hedge funds and other institutional investors.
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Intel Corporation (NASDAQ:INTC) opened at 36.43 on Tuesday. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $38.45. The stock has a market capitalization of $171.18 billion, a P/E ratio of 13.90 and a beta of 1.01. The company has a 50 day moving average of $34.56 and a 200 day moving average of $35.72.
Intel Corporation (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the prior year, the company earned $0.59 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts expect that Intel Corporation will post $3.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, August 3rd. Intel Corporation’s dividend payout ratio (DPR) is presently 41.76%.
About Intel Corporation
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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