Intel Corp. (NASDAQ:INTC) – Equities researchers at B. Riley boosted their Q3 2016 earnings estimates for shares of Intel Corp. in a report issued on Friday. B. Riley analyst C. Ellis now forecasts that the firm will earn $0.73 per share for the quarter, up from their prior forecast of $0.67. B. Riley has a “Buy” rating and a $45.00 price objective on the stock. B. Riley also issued estimates for Intel Corp.’s Q4 2016 earnings at $0.71 EPS, FY2016 earnings at $2.57 EPS, Q2 2017 earnings at $0.72 EPS, Q3 2017 earnings at $0.82 EPS, Q4 2017 earnings at $0.81 EPS and FY2017 earnings at $3.00 EPS.

Intel Corp. (NASDAQ:INTC) last released its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The firm earned $13.50 billion during the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS.

A number of other brokerages have also commented on INTC. Citigroup Inc. lifted their price target on Intel Corp. from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday. BMO Capital Markets reiterated a “hold” rating and set a $34.00 price target on shares of Intel Corp. in a report on Monday. Stifel Nicolaus set a $39.00 price target on Intel Corp. and gave the stock a “buy” rating in a report on Monday. Robert W. Baird lifted their price target on Intel Corp. from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Jefferies Group lifted their price target on Intel Corp. from $44.00 to $49.00 and gave the stock a “buy” rating in a report on Monday. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $38.54.

Shares of Intel Corp. (NASDAQ:INTC) opened at 37.16 on Monday. The company has a market capitalization of $175.80 billion, a P/E ratio of 18.02 and a beta of 0.93. The stock’s 50 day moving average price is $35.47 and its 200-day moving average price is $32.89. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.05.

Large investors have recently modified their holdings of the company. Needelman Asset Management Inc. raised its position in shares of Intel Corp. by 2.0% in the first quarter. Needelman Asset Management Inc. now owns 34,855 shares of the chip maker’s stock worth $1,128,000 after buying an additional 696 shares during the last quarter. Union Bankshares Corp raised its position in shares of Intel Corp. by 3.1% in the first quarter. Union Bankshares Corp now owns 136,643 shares of the chip maker’s stock worth $4,421,000 after buying an additional 4,095 shares during the last quarter. Iowa State Bank raised its position in shares of Intel Corp. by 2.0% in the first quarter. Iowa State Bank now owns 82,035 shares of the chip maker’s stock worth $2,654,000 after buying an additional 1,625 shares during the last quarter. 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 worth $147,124,000 after buying an additional 75,574 shares during the last quarter. Finally, 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 worth $6,326,000 after buying an additional 26,707 shares during the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.

In other Intel Corp. news, VP Gregory R. Pearson sold 250,192 shares of the 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 sale, the vice president now owns 92,826 shares in the company, valued at approximately $3,388,149. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andy D. Bryant sold 445,095 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $34.69, for a total value of $15,440,345.55. Following the completion of the sale, the chairman now owns 399,557 shares of the company’s stock, valued at approximately $13,860,632.33. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. Intel Corp.’s payout ratio is presently 50.24%.

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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