Intel Corp. (INTC) Reaches New 12-Month High at $36.33
Intel Corp. (NASDAQ:INTC) shares reached a new 52-week high during trading on Friday . The stock traded as high as $36.33 and last traded at $36.05, with a volume of 9,409,538 shares traded. The stock had previously closed at $36.02.
Several research analysts have commented on INTC shares. Cowen and Company reaffirmed a “market perform” rating and set a $36.00 price target (up previously from $32.00) on shares of Intel Corp. in a research report on Monday, July 11th. Vetr lowered Intel Corp. from a “hold” rating to a “sell” rating and set a $31.46 price target on the stock. in a research report on Monday, July 4th. Royal Bank Of Canada lifted their price target on Intel Corp. from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, July 8th. Canaccord Genuity boosted their target price on Intel Corp. from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday, July 18th. Finally, RBC Capital Markets reissued a “hold” rating and issued a $36.00 target price on shares of Intel Corp. in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-nine have assigned a buy rating to the company. Intel Corp. has an average rating of “Buy” and an average price target of $37.32.
The stock has a market cap of $170.69 billion and a price-to-earnings ratio of 17.50. The firm has a 50 day moving average price of $35.02 and a 200-day moving average price of $32.31.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.06. The company earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. Intel Corp.’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. On average, analysts anticipate that Intel Corp. will post $2.50 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Sunday, August 7th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Wednesday, August 3rd.
In related news, VP Gregory R. Pearson sold 1,506 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $34.46, for a total value of $51,896.76. Following the completion of the transaction, the vice president now directly owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 71,413 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $32.73, for a total transaction of $2,337,347.49. Following the completion of the transaction, the chief executive officer now directly owns 435,796 shares of the company’s stock, valued at $14,263,603.08. The disclosure for this sale can be found here.
A number of institutional investors recently made changes to their positions in INTC. Johnson Financial Group Inc. raised its position in shares of Intel Corp. by 0.3% in the fourth quarter. Johnson Financial Group Inc. now owns 107,153 shares of the chip maker’s stock worth $3,691,000 after buying an additional 364 shares during the last quarter. Community Financial Services Group LLC increased its position in Intel Corp. by 0.9% in the fourth quarter. Community Financial Services Group LLC now owns 64,152 shares of the chip maker’s stock worth $2,210,000 after buying an additional 566 shares in the last quarter. QCI Asset Management Inc. NY increased its position in Intel Corp. by 0.5% in the fourth quarter. QCI Asset Management Inc. NY now owns 398,366 shares of the chip maker’s stock worth $13,724,000 after buying an additional 1,860 shares in the last quarter. Alerus Investment Advisors Corp increased its position in Intel Corp. by 11.8% in the fourth quarter. Alerus Investment Advisors Corp now owns 51,301 shares of the chip maker’s stock worth $1,768,000 after buying an additional 5,407 shares in the last quarter. Finally, Atlantic Trust Group LLC increased its position in Intel Corp. by 1.0% in the fourth quarter. Atlantic Trust Group LLC now owns 568,478 shares of the chip maker’s stock worth $19,584,000 after buying an additional 5,523 shares in the last quarter.
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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