Intel Corp. (NASDAQ:INTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $42.00 price target on the chip maker’s stock. Zacks Investment Research’s price target points to a potential upside of 12.93% from the stock’s previous close.
According to Zacks, “Intel is one of the world’s leading producers of semiconductor components and digital platforms. The company’s second-quarter earnings exceeded the Zacks Consensus estimate. Data center is currently the most promising area, where macro factors are impacting the enterprise side (cloud remains strong). Intel’s investments in IoT, security and memory could pay off this year but comprise a very small portion of its revenue. Also, while the broader product and price range, greater integration in products, process technology lead, Chinese collaborations and Win 10-related PC refresh can help the client business, certain issues (revenue concentration, declining PC demand, failed mobile initiative) are dampeners. ARM-based competition claiming greater performance at lower cost of ownership, major customers like Google looking for alternatives and China weakness are other concerns.”
A number of other equities research analysts have also recently weighed in on INTC. Sanford C. Bernstein set a $26.00 price objective on Intel Corp. and gave the company a “sell” rating in a research note on Monday, May 30th. Sterne Agee CRT reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Intel Corp. in a research note on Tuesday, May 31st. Vetr cut Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $34.92 price objective for the company. in a research note on Wednesday, June 8th. Wells Fargo & Co. reissued a “buy” rating on shares of Intel Corp. in a research note on Wednesday, June 8th. Finally, Pacific Crest raised Intel Corp. to an “outperform” rating in a research note on Monday, June 13th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirty-two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $39.19.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.19 on Monday. The firm has a 50-day moving average price of $35.79 and a 200-day moving average price of $33.05. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.05. The stock has a market capitalization of $175.95 billion, a PE ratio of 18.04 and a beta of 0.93.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Intel Corp. will post $2.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is 50.24%.
In other Intel Corp. news, VP Gregory R. Pearson sold 250,192 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the completion of the transaction, the vice president now owns 92,826 shares of the company’s stock, valued at approximately $3,388,149. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Gregory R. Pearson sold 1,506 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 valued at $9,824,733,000 after buying an additional 5,697,051 shares during the last quarter. Capital World Investors increased its position 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 valued at $5,479,164,000 after buying an additional 8,095,076 shares during the last quarter. Capital Research Global Investors increased its position in 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 valued at $3,381,823,000 after buying an additional 4,719,872 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 valued at $1,498,217,000 after buying an additional 8,662,708 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in 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 valued at $1,427,513,000 after buying an additional 2,414,858 shares during the last quarter. 64.77% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 MarketBeat.com's FREE daily email newsletter.