Intel Co. (NASDAQ:INTC) – KeyCorp increased their Q2 2020 earnings estimates for shares of Intel in a report released on Thursday, January 23rd. KeyCorp analyst W. Twigg now expects that the chip maker will post earnings of $1.28 per share for the quarter, up from their previous estimate of $1.10. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Intel’s FY2020 earnings at $5.08 EPS, Q1 2021 earnings at $1.11 EPS, Q2 2021 earnings at $1.19 EPS, Q3 2021 earnings at $1.35 EPS, Q4 2021 earnings at $1.42 EPS and FY2021 earnings at $5.07 EPS.
INTC has been the topic of a number of other research reports. Credit Suisse Group increased their price objective on Intel from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Friday. Northland Securities downgraded Intel from an “outperform” rating to a “market perform” rating and set a $70.00 price objective on the stock. in a report on Monday. Wells Fargo & Co increased their price objective on Intel from $58.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday. SunTrust Banks increased their price objective on Intel from $62.00 to $70.00 and gave the company a “hold” rating in a report on Friday. Finally, FIX increased their price objective on Intel from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Nine research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $65.48.
Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 23rd. The chip maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Intel had a return on equity of 29.01% and a net margin of 29.25%. The business had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $19.23 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis.
Intel declared that its Board of Directors has authorized a share buyback plan on Thursday, October 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the chip maker to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 7th will be issued a $0.33 dividend. This is a boost from Intel’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, February 6th. Intel’s dividend payout ratio (DPR) is currently 25.87%.
In related news, EVP Navin Shenoy sold 1,404 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.94, for a total value of $78,539.76. Following the completion of the transaction, the executive vice president now directly owns 58,168 shares of the company’s stock, valued at approximately $3,253,917.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank D. Yeary sold 2,509 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $56.34, for a total value of $141,357.06. The disclosure for this sale can be found here. Insiders sold a total of 81,284 shares of company stock valued at $4,517,194 over the last three months. Insiders own 0.02% of the company’s stock.
Large investors have recently made changes to their positions in the company. Tower View Investment Management & Research LLC acquired a new position in Intel in the fourth quarter valued at $31,000. Corbenic Partners LLC acquired a new position in Intel in the fourth quarter valued at $41,000. Intercontinental Wealth Advisors LLC boosted its holdings in Intel by 83.0% in the third quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock valued at $51,000 after acquiring an additional 450 shares during the last quarter. Lenox Wealth Advisors LLC boosted its holdings in Intel by 117.4% in the third quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock valued at $52,000 after acquiring an additional 540 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in Intel by 114.7% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 976,135 shares of the chip maker’s stock valued at $58,000 after acquiring an additional 521,534 shares during the last quarter. 65.37% of the stock is owned by institutional investors and hedge funds.
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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