Intel Corp. (INTC) Price Target Increased to $43.00 by Analysts at Needham & Company LLC
Intel Corp. (NASDAQ:INTC) had its target price raised by Needham & Company LLC from $38.00 to $43.00 in a research report report published on Monday. Needham & Company LLC currently has a buy rating on the chip maker’s stock.
A number of other research firms also recently weighed in on INTC. B. Riley reissued a buy rating and set a $45.00 price target (up from $42.00) on shares of Intel Corp. in a research note on Friday. Mizuho boosted their price target on shares of Intel Corp. from $38.00 to $42.00 and gave the stock a buy rating in a research note on Monday. Credit Agricole SA boosted their price target on shares of Intel Corp. from $35.00 to $37.00 and gave the stock an underperform rating in a research note on Monday. Vetr raised shares of Intel Corp. from a hold rating to a buy rating and set a $38.07 target price for the company in a research note on Wednesday, September 7th. Finally, Cowen and Company upped their target price on shares of Intel Corp. from $36.00 to $38.00 and gave the company a market perform rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty-one have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $39.01.
Intel Corp. (NASDAQ:INTC) opened at 37.16 on Monday. Intel Corp. has a one year low of $27.68 and a one year high of $38.05. The company has a market cap of $175.80 billion, a PE ratio of 18.02 and a beta of 0.93. The firm has a 50-day moving average of $35.47 and a 200-day moving average of $32.89.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.06. The business earned $13.50 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, analysts predict that Intel Corp. will post $2.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In other news, VP Gregory R. Pearson sold 250,192 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the completion of the sale, the vice president now owns 92,826 shares of the company’s stock, valued at $3,388,149. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Andy D. Bryant sold 445,095 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $34.69, for a total value of $15,440,345.55. Following the sale, the chairman now directly owns 399,557 shares of the company’s stock, valued at approximately $13,860,632.33. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Carnick & Kubik LLC acquired a new stake in shares of Intel Corp. during the first quarter worth approximately $100,000. Global X Management Co. LLC raised its stake 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 worth $100,000 after buying an additional 1,039 shares during the last quarter. Penserra Capital Management LLC raised its stake 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 worth $104,000 after buying an additional 847 shares during the last quarter. Nelson Roberts Investment Advisors LLC raised its stake 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 worth $113,000 after buying an additional 1,226 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake 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 worth $118,000 after buying an additional 1,998 shares during the last quarter. 64.77% of the stock is owned by institutional investors.
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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