Intel Corp. (INTC) Earns “Underweight” Rating from Morgan Stanley
A number of other analysts have also weighed in on INTC. Vetr raised shares of Intel Corp. from a hold rating to a buy rating and set a $38.07 target price on the stock in a report on Wednesday, September 7th. Sanford C. Bernstein reaffirmed a hold rating on shares of Intel Corp. in a report on Thursday, September 8th. Wells Fargo & Co. reaffirmed a buy rating on shares of Intel Corp. in a report on Sunday, September 4th. Bank of America Corp. reaffirmed a buy rating and set a $42.00 target price on shares of Intel Corp. in a report on Sunday, September 4th. Finally, Zacks Investment Research lowered shares of Intel Corp. from a buy rating to a hold rating in a report on Monday, September 5th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $38.08.
Intel Corp. (NASDAQ:INTC) opened at 37.67 on Wednesday. The firm has a market cap of $178.22 billion, a price-to-earnings ratio of 18.27 and a beta of 0.93. The stock’s 50 day moving average is $35.26 and its 200-day moving average is $32.70. Intel Corp. has a one year low of $27.68 and a one year high of $38.05.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. The company had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. Intel Corp.’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. On average, equities research analysts expect that Intel Corp. will post $2.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is currently 50.24%.
In other Intel Corp. news, CEO Brian M. Krzanich sold 71,413 shares of Intel Corp. stock in a transaction that occurred on Friday, July 1st. The shares were 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 of the company’s stock, valued at $14,263,603.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stacy J. Smith sold 29,497 shares of Intel Corp. stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the transaction, the chief financial officer now directly owns 263,772 shares in the company, valued at approximately $9,092,220.84. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
A number of institutional investors have recently modified their holdings of INTC. Carnick & Kubik LLC purchased a new position in shares of Intel Corp. during the first quarter valued at $100,000. Global X Management Co. LLC increased its position in shares of Intel Corp. by 52.0% in the second quarter. Global X Management Co. LLC now owns 3,037 shares of the chip maker’s stock valued at $100,000 after buying an additional 1,039 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of Intel Corp. by 36.3% in the second quarter. Penserra Capital Management LLC now owns 3,178 shares of the chip maker’s stock valued at $104,000 after buying an additional 847 shares in the last quarter. Nelson Roberts Investment Advisors LLC increased its position in shares of Intel Corp. by 55.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 3,443 shares of the chip maker’s stock valued at $113,000 after buying an additional 1,226 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock valued at $118,000 after buying an additional 1,998 shares in the last quarter. 64.77% of the stock is currently owned by institutional investors and hedge funds.
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.
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