Intel Corp. (NASDAQ:INTC) had its price objective cut by equities research analysts at Needham & Company LLC from $43.00 to $42.00 in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the chip maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 11.26% from the stock’s previous close.
INTC has been the topic of a number of other research reports. Zacks Investment Research raised Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Monday, September 26th. Vetr downgraded Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 price objective for the company. in a report on Monday, August 29th. Wells Fargo & Co. restated a “buy” rating on shares of Intel Corp. in a report on Sunday, September 4th. BlueFin Research restated a “buy” rating on shares of Intel Corp. in a report on Monday, October 3rd. Finally, Morgan Stanley restated an “underweight” rating and set a $31.00 price objective on shares of Intel Corp. in a report on Wednesday, September 14th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $40.02.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.75 on Wednesday. Intel Corp. has a one year low of $27.68 and a one year high of $38.36. The firm’s 50-day moving average price is $36.98 and its 200-day moving average price is $33.74. The stock has a market capitalization of $178.60 billion, a P/E ratio of 18.31 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Intel Corp. will post $2.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.75%. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In other news, VP Gregory R. Pearson sold 250,192 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 92,826 shares in the company, valued at $3,388,149. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the transaction, the chief executive officer now owns 420,506 shares in the company, valued at $15,857,281.26. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Wade G W & Inc. raised its position in shares of Intel Corp. by 3.6% in the first quarter. Wade G W & Inc. now owns 205,045 shares of the chip maker’s stock worth $6,633,000 after buying an additional 7,156 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Intel Corp. by 4.8% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 44,754 shares of the chip maker’s stock worth $1,448,000 after buying an additional 2,039 shares during the last quarter. IMS Capital Management raised its position in shares of Intel Corp. by 48.5% in the first quarter. IMS Capital Management now owns 63,965 shares of the chip maker’s stock worth $2,069,000 after buying an additional 20,898 shares during the last quarter. PacWest Financial Management Inc raised its position in shares of Intel Corp. by 13.2% in the first quarter. PacWest Financial Management Inc now owns 98,033 shares of the chip maker’s stock worth $3,171,000 after buying an additional 11,451 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in shares of Intel Corp. by 6.1% in the first quarter. DAVENPORT & Co LLC now owns 163,973 shares of the chip maker’s stock worth $5,305,000 after buying an additional 9,428 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.
Intel Corp. Company Profile
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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