Intel Corp. (INTC) Price Target Raised to $44.00 at Canaccord Genuity
Intel Corp. (NASDAQ:INTC) had its target price lifted by Canaccord Genuity from $40.00 to $44.00 in a research report report published on Tuesday. The firm currently has a buy rating on the chip maker’s stock.
Other research analysts have also recently issued reports about the company. Citigroup Inc. reaffirmed a neutral rating and issued a $35.00 target price (up from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. reaffirmed a market perform rating on shares of Intel Corp. in a research report on Thursday, July 21st. BNP Paribas set a $37.00 target price on Intel Corp. and gave the stock a neutral rating in a research report on Friday, July 22nd. Sanford C. Bernstein set a $26.00 target price on Intel Corp. and gave the stock a sell rating in a research report on Monday, May 30th. Finally, Argus reaffirmed a buy rating and issued a $41.00 target price on shares of Intel Corp. in a research report on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have issued a buy rating to the company’s stock. Intel Corp. currently has a consensus rating of Buy and a consensus target price of $39.01.
Shares of Intel Corp. (NASDAQ:INTC) traded up 0.24% during trading on Tuesday, reaching $37.23. 3,347,001 shares of the company were exchanged. The stock has a market capitalization of $176.14 billion, a P/E ratio of 18.06 and a beta of 0.93. The stock has a 50-day moving average of $35.53 and a 200 day moving average of $32.94. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.05.
Intel Corp. (NASDAQ:INTC) last announced 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. The business had revenue of $13.50 billion for 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 quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.55 earnings per share. On average, equities analysts anticipate that Intel Corp. will post $2.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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 yield of 2.80%. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
In other Intel Corp. news, Chairman Andy D. Bryant sold 445,095 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $34.69, for a total value of $15,440,345.55. Following the completion of the sale, the chairman now directly owns 399,557 shares of the company’s stock, valued at $13,860,632.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory R. Pearson sold 250,192 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $36.50, for a total value of $9,132,008.00. Following the completion of the sale, the vice president now directly owns 92,826 shares of the company’s stock, valued at $3,388,149. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new stake in Intel Corp. during the second quarter worth about $295,226,000. Dimensional Fund Advisors LP increased its stake in Intel Corp. by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 45,685,548 shares of the chip maker’s stock worth $1,498,217,000 after buying an additional 8,662,708 shares in the last quarter. Capital World Investors increased its stake in Intel Corp. by 5.1% in the second quarter. Capital World Investors now owns 167,047,690 shares of the chip maker’s stock worth $5,479,164,000 after buying an additional 8,095,076 shares in the last quarter. Institutional Capital LLC increased its stake in Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock worth $329,388,000 after buying an additional 7,969,512 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Intel Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 299,534,545 shares of the chip maker’s stock worth $9,824,733,000 after buying an additional 5,697,051 shares in the last quarter. 64.77% of the stock is 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.
Receive News & Ratings for Intel Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.