Shares of Intel Corp. (NASDAQ:INTC) fell 6.4% on Wednesday after Canaccord Genuity lowered their price target on the stock from $44.00 to $43.00. Canaccord Genuity currently has a buy rating on the stock. Intel Corp. traded as low as $35.23 and last traded at $35.34, with a volume of 45,959,158 shares trading hands. The stock had previously closed at $37.75.
Several other analysts also recently weighed in on the company. Charter Equity upgraded Intel Corp. from a “market perform” rating to a “buy” rating in a report on Wednesday. Morgan Stanley set a $35.00 target price on shares of Intel Corp. and gave the stock a “sell” rating in a report on Wednesday. Nomura set a $40.00 target price on shares of Intel Corp. and gave the stock a “buy” rating in a report on Wednesday. Jefferies Group set a $46.00 target price on shares of Intel Corp. and gave the stock a “buy” rating in a report on Wednesday. Finally, BNP Paribas set a $36.00 target price on shares of Intel Corp. and gave the stock a “neutral” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-four have given a buy rating to the stock. Intel Corp. presently has a consensus rating of “Buy” and a consensus target price of $39.91.
In other news, CEO Brian M. Krzanich sold 67,508 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $37.71, for a total value of $2,545,726.68. Following the completion of the transaction, the chief executive officer now directly owns 420,506 shares of the company’s stock, valued at $15,857,281.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Gregory R. Pearson sold 250,192 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $36.50, for a total value of $9,132,008.00. Following the completion of the transaction, the vice president now directly owns 92,826 shares of the company’s stock, valued at $3,388,149. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in INTC. Emerald Acquisition Ltd. bought a new position in Intel Corp. during the second quarter worth $295,226,000. Dimensional Fund Advisors LP boosted 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 worth $1,498,217,000 after buying an additional 8,662,708 shares during the period. Capital World Investors boosted 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 worth $5,479,164,000 after buying an additional 8,095,076 shares during the period. Institutional Capital LLC boosted its position in Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock worth $329,388,000 after buying an additional 7,969,512 shares during the period. Finally, Vanguard Group Inc. boosted 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 worth $9,824,733,000 after buying an additional 5,697,051 shares during the period. 64.82% of the stock is owned by institutional investors.
The firm has a 50-day moving average price of $36.98 and a 200-day moving average price of $33.74. The company has a market capitalization of $167.03 billion, a P/E ratio of 17.122 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last posted its earnings results on Tuesday, October 18th. The chip maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The firm had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Intel Corp. will post $2.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is currently 50.24%.
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.
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.