Intel Corp. (INTC) Earns “Underweight” Rating from Morgan Stanley
Morgan Stanley reiterated their underweight rating on shares of Intel Corp. (NASDAQ:INTC) in a research report released on Wednesday morning. Morgan Stanley currently has a $31.00 target price on the chip maker’s stock.
Several other analysts have also recently commented on the stock. Royal Bank Of Canada reiterated a hold rating on shares of Intel Corp. in a research report on Saturday, July 9th. B. Riley reiterated a buy rating and set a $42.00 target price on shares of Intel Corp. in a research report on Thursday, July 21st. Robert W. Baird upped their target price on shares of Intel Corp. from $38.00 to $40.00 and gave the company an outperform rating in a research report on Tuesday, September 6th. Citigroup Inc. reiterated a neutral rating and set a $35.00 target price (up previously from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Finally, Vetr cut shares of Intel Corp. from a buy rating to a hold rating and set a $32.02 target price for the company. in a research report on Wednesday, June 22nd. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $38.08.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.67 on Wednesday. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.05. The firm has a market cap of $178.22 billion, a PE ratio of 18.27 and a beta of 0.93. The company’s 50-day moving average price is $35.26 and its 200-day moving average price is $32.70.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts expect that Intel Corp. will post $2.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.76%. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In other news, VP Gregory R. Pearson sold 250,192 shares of Intel Corp. stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the transaction, the vice president now owns 92,826 shares in the company, valued at $3,388,149. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 71,413 shares of Intel Corp. stock in a transaction on Friday, July 1st. The stock was sold at an average price of $32.73, for a total transaction of $2,337,347.49. Following the transaction, the chief executive officer now owns 435,796 shares in the company, valued at approximately $14,263,603.08. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Williams Jones & Associates LLC raised its position in shares of Intel Corp. by 282.2% in the second quarter. Williams Jones & Associates LLC now owns 175,244 shares of the chip maker’s stock worth $5,748,000 after buying an additional 129,387 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Intel Corp. during the second quarter worth approximately $6,254,000. Kentucky Retirement Systems acquired a new position in shares of Intel Corp. during the second quarter worth approximately $13,171,000. AR Asset Management Inc. raised its position in shares of Intel Corp. by 0.9% in the second quarter. AR Asset Management Inc. now owns 56,500 shares of the chip maker’s stock worth $1,853,000 after buying an additional 500 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of Intel Corp. by 43.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 352,609 shares of the chip maker’s stock worth $11,566,000 after buying an additional 106,773 shares during the period. Institutional investors own 64.77% 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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