Northland Securities Reiterates “$40.00” Price Target for Intel Corporation (INTC)
Northland Securities set a $40.00 target price on Intel Corporation (NASDAQ:INTC) in a research report sent to investors on Friday morning. The firm currently has a hold rating on the chip maker’s stock.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Intel Corporation from a hold rating to a sell rating in a report on Monday, July 17th. Bank of America Corp downgraded shares of Intel Corporation from a buy rating to a neutral rating and cut their price target for the company from $42.00 to $38.00 in a report on Wednesday, June 21st. BidaskClub downgraded shares of Intel Corporation from a hold rating to a sell rating in a report on Tuesday, June 27th. Wells Fargo & Company reissued an outperform rating and issued a $45.00 price target on shares of Intel Corporation in a report on Thursday, April 6th. Finally, Vetr downgraded shares of Intel Corporation from a strong-buy rating to a buy rating and set a $39.43 price target for the company. in a report on Monday, May 22nd. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Intel Corporation currently has an average rating of Hold and an average price target of $40.52.
Shares of Intel Corporation (NASDAQ INTC) opened at 35.47 on Friday. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The firm’s 50-day moving average price is $34.55 and its 200 day moving average price is $35.72. The company has a market capitalization of $166.67 billion, a PE ratio of 13.54 and a beta of 1.00.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the firm earned $0.59 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts predict that Intel Corporation will post $2.86 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be issued a dividend of $0.2725 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a yield of 3.07%. Intel Corporation’s dividend payout ratio is currently 41.76%.
In other news, EVP Diane M. Bryant sold 1,639 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $34.65, for a total value of $56,791.35. Following the completion of the sale, the executive vice president now directly owns 114,542 shares of the company’s stock, valued at $3,968,880.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Holmes Swan acquired 13,888 shares of Intel Corporation stock in a transaction dated Monday, June 5th. The stock was purchased at an average cost of $36.31 per share, with a total value of $504,273.28. Following the completion of the purchase, the chief financial officer now owns 8,774 shares of the company’s stock, valued at $318,583.94. The disclosure for this purchase can be found here. Over the last three months, insiders sold 76,501 shares of company stock valued at $2,581,891. Corporate insiders own 0.09% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Watermark Asset Management Inc. purchased a new stake in shares of Intel Corporation during the first quarter worth about $113,000. Orrstown Financial Services Inc. boosted its stake in shares of Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares during the period. Winfield Associates Inc. boosted its stake in shares of Intel Corporation by 6.0% in the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after buying an additional 265 shares during the period. Finally, Vigilant Capital Management LLC boosted its stake in shares of Intel Corporation by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after buying an additional 805 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.
About Intel Corporation
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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