Intel Corp. (INTC) PT Raised to $49.00
Intel Corp. (NASDAQ:INTC) had its price objective raised by research analysts at Jefferies Group from $44.00 to $49.00 in a report issued on Monday. The firm presently has a “buy” rating on the chip maker’s stock. Jefferies Group’s price target would indicate a potential upside of 31.93% from the company’s previous close.
Several other research analysts also recently commented on INTC. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Intel Corp. in a research note on Saturday, July 9th. B. Riley reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Intel Corp. in a research note on Tuesday, July 26th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Intel Corp. in a research note on Sunday, September 4th. Argus reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Intel Corp. in a research note on Monday, July 25th. Finally, Sanford C. Bernstein set a $31.00 price objective on Intel Corp. and gave the stock a “hold” rating in a research note on Thursday, July 21st. Three investment 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. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.01.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.14 on Monday. The company has a market cap of $175.71 billion, a P/E ratio of 18.01 and a beta of 0.93. The company has a 50-day moving average price of $35.53 and a 200-day moving average price 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 posted its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company 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 company earned $0.55 earnings per share. Intel Corp.’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts predict that Intel Corp. will post $2.57 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 $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s payout ratio is currently 50.24%.
In other Intel Corp. news, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the sale, the vice president now directly owns 84,505 shares in the company, valued at $2,912,042.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Andy D. Bryant sold 445,095 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now owns 399,557 shares in the company, valued at $13,860,632.33. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Carnick & Kubik LLC acquired a new stake in Intel Corp. during the first quarter worth $100,000. Global X Management Co. LLC boosted its stake in 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 in the last quarter. Penserra Capital Management LLC boosted its stake in 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 in the last quarter. Nelson Roberts Investment Advisors LLC boosted its stake in 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 in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in 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 in the last quarter. Institutional investors own 64.77% of the company’s stock.
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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