Intel Corp. (INTC) Rating Reiterated by JPMorgan Chase & Co.
Intel Corp. (NASDAQ:INTC)‘s stock had its “overweight” rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a report issued on Tuesday. They presently have a $44.00 price target on the chip maker’s stock, up from their previous price target of $42.00. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 18.41% from the company’s previous close.
INTC has been the subject of several other reports. Vetr lowered shares of Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 price objective for the company. in a research note on Monday, August 29th. Wells Fargo & Co. reissued a “buy” rating on shares of Intel Corp. in a research note on Sunday, September 4th. Morgan Stanley reissued an “underweight” rating and set a $31.00 target price on shares of Intel Corp. in a research note on Wednesday, September 14th. Canaccord Genuity reissued a “buy” rating and set a $40.00 target price on shares of Intel Corp. in a research note on Tuesday, August 23rd. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Intel Corp. in a research note on Friday, August 19th. Three 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. Intel Corp. presently has a consensus rating of “Buy” and a consensus target price of $38.93.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.16 on Tuesday. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.05. The company’s 50-day moving average is $35.47 and its 200 day moving average is $32.89. The stock has a market capitalization of $175.80 billion, a P/E ratio of 18.02 and a beta of 0.93.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The company earned $13.50 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. Equities research analysts predict that Intel Corp. will post $2.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s payout ratio is currently 50.24%.
In other news, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the sale, the vice president now directly owns 84,505 shares in the company, valued at approximately $2,912,042.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian M. Krzanich sold 71,413 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $32.73, for a total value of $2,337,347.49. Following the sale, the chief executive officer now owns 435,796 shares in the company, valued at $14,263,603.08. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several hedge funds have recently made changes to their positions in INTC. Vanguard Group Inc. boosted its stake in shares of 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 during the last quarter. Capital World Investors boosted its stake in shares of 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 during the last quarter. Capital Research Global Investors boosted its stake in shares of Intel Corp. by 4.8% in the second quarter. Capital Research Global Investors now owns 103,104,372 shares of the chip maker’s stock worth $3,381,823,000 after buying an additional 4,719,872 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Intel Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 44,204,897 shares of the chip maker’s stock worth $1,427,513,000 after buying an additional 2,414,858 shares during the last quarter. Institutional investors and hedge funds 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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