Intel Corp. (INTC) Rating Reiterated by Morgan Stanley
Intel Corp. (NASDAQ:INTC)‘s stock had its “underweight” rating reaffirmed by equities researchers at Morgan Stanley in a research note issued on Tuesday. They currently have a $34.00 price target on the chip maker’s stock. Morgan Stanley’s target price suggests a potential downside of 8.50% from the stock’s previous close.
Several other equities analysts have also weighed in on INTC. Royal Bank Of Canada restated a “hold” rating on shares of Intel Corp. in a report on Saturday, July 9th. B. Riley restated a “buy” rating and set a $42.00 target price on shares of Intel Corp. in a report on Tuesday, July 26th. JPMorgan Chase & Co. restated an “overweight” rating and set a $44.00 target price (up from $42.00) on shares of Intel Corp. in a report on Tuesday. Wells Fargo & Co. restated a “buy” rating on shares of Intel Corp. in a report on Sunday, September 4th. Finally, Susquehanna assumed coverage on Intel Corp. in a report on Tuesday. They set a “positive” rating and a $42.00 target price on the stock. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $38.93.
Intel Corp. (NASDAQ:INTC) opened at 37.16 on Tuesday. The company has a 50-day moving average price of $35.47 and a 200 day moving average price of $32.89. The firm has a market capitalization of $175.80 billion, a price-to-earnings ratio of 18.02 and a beta of 0.93. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.05.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. During the same period last year, the company earned $0.55 earnings per share. Intel Corp.’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Intel Corp. will post $2.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. Intel Corp.’s dividend payout ratio is currently 50.24%.
In related news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $34.71, for a total value of $485,835.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory R. Pearson sold 250,192 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the completion of the transaction, the vice president now owns 92,826 shares of the company’s stock, valued at $3,388,149. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of INTC. Pioneer Investment Management Inc. raised its position in shares of Intel Corp. by 98.3% in the fourth quarter. Pioneer Investment Management Inc. now owns 169,339 shares of the chip maker’s stock valued at $5,834,000 after buying an additional 83,945 shares during the last quarter. First American Bank raised its position in shares of Intel Corp. by 4.1% in the first quarter. First American Bank now owns 133,085 shares of the chip maker’s stock valued at $4,305,000 after buying an additional 5,218 shares during the last quarter. New England Research & Management Inc. raised its position in shares of Intel Corp. by 4.0% in the first quarter. New England Research & Management Inc. now owns 40,533 shares of the chip maker’s stock valued at $1,311,000 after buying an additional 1,550 shares during the last quarter. Trust Co. of Virginia VA raised its position in shares of Intel Corp. by 15.8% in the first quarter. Trust Co. of Virginia VA now owns 195,545 shares of the chip maker’s stock valued at $6,326,000 after buying an additional 26,707 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of Intel Corp. by 1.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 4,547,912 shares of the chip maker’s stock valued at $147,124,000 after buying an additional 75,574 shares during the last quarter. Institutional investors own 64.77% of the company’s stock.
About Intel Corp.
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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