Intel Co. (NASDAQ:INTC) – Investment analysts at Jefferies Financial Group increased their Q3 2020 EPS estimates for shares of Intel in a report released on Friday, January 24th. Jefferies Financial Group analyst M. Lipacis now forecasts that the chip maker will post earnings of $1.07 per share for the quarter, up from their prior estimate of $0.98. Jefferies Financial Group has a “Hold” rating and a $64.00 price objective on the stock. Jefferies Financial Group also issued estimates for Intel’s Q4 2020 earnings at $0.89 EPS, Q1 2021 earnings at $0.98 EPS, Q2 2021 earnings at $1.08 EPS, Q3 2021 earnings at $1.30 EPS, Q4 2021 earnings at $1.48 EPS and FY2021 earnings at $4.83 EPS.
A number of other analysts also recently weighed in on the stock. Wedbush upped their target price on shares of Intel from $46.00 to $52.50 and gave the stock an “underperform” rating in a research report on Friday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $65.00 target price on shares of Intel in a research report on Friday. Cowen upped their target price on shares of Intel from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 21st. Northland Securities downgraded shares of Intel from an “outperform” rating to a “market perform” rating and set a $70.00 target price on the stock. in a research report on Monday. Finally, ValuEngine downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Tuesday. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $65.48.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 23rd. The chip maker reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.27. The business had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $19.23 billion. Intel had a net margin of 29.25% and a return on equity of 29.01%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 EPS.
The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 7th will be paid a $0.33 dividend. This is a boost from Intel’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.01%. Intel’s payout ratio is presently 25.87%.
Intel declared that its board has initiated a stock buyback plan on Thursday, October 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the chip maker to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
In related news, EVP Navin Shenoy sold 1,404 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.94, for a total value of $78,539.76. Following the transaction, the executive vice president now owns 58,168 shares in the company, valued at approximately $3,253,917.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank D. Yeary sold 12,545 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $60.35, for a total transaction of $757,090.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,284 shares of company stock worth $4,517,194. 0.02% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of INTC. Kanawha Capital Management LLC lifted its stake in Intel by 1.6% during the 2nd quarter. Kanawha Capital Management LLC now owns 320,181 shares of the chip maker’s stock valued at $15,327,000 after acquiring an additional 5,112 shares during the period. Cubist Systematic Strategies LLC lifted its stake in Intel by 29.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 33,712 shares of the chip maker’s stock valued at $1,614,000 after acquiring an additional 7,604 shares during the period. Lumina Fund Management LLC bought a new position in Intel during the 2nd quarter valued at about $718,000. Lehman & Derafelo Financial Resources LLC lifted its stake in Intel by 17.9% during the 2nd quarter. Lehman & Derafelo Financial Resources LLC now owns 7,235 shares of the chip maker’s stock valued at $348,000 after acquiring an additional 1,100 shares during the period. Finally, LGL Partners LLC lifted its stake in Intel by 8.4% during the 2nd quarter. LGL Partners LLC now owns 8,262 shares of the chip maker’s stock valued at $396,000 after acquiring an additional 643 shares during the period. Institutional investors and hedge funds own 65.37% of the company’s stock.
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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