Intel Corp. (INTC) PT Raised to $43.00 at Needham & Company LLC
Intel Corp. (NASDAQ:INTC) had its price objective lifted by investment analysts at Needham & Company LLC from $38.00 to $43.00 in a research report issued on Monday. The brokerage currently has a “buy” rating on the chip maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 15.78% from the company’s previous close.
INTC has been the topic of a number of other reports. Citigroup Inc. reiterated a “neutral” rating and issued a $35.00 price objective (up from $31.00) on shares of Intel Corp. in a report on Thursday, June 30th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Intel Corp. in a report on Thursday, July 21st. BNP Paribas set a $37.00 price objective on Intel Corp. and gave the company a “neutral” rating in a report on Friday, July 22nd. Sanford C. Bernstein set a $26.00 price target on Intel Corp. and gave the stock a “sell” rating in a research note on Monday, May 30th. Finally, Argus restated a “buy” rating and set a $41.00 price target on shares of Intel Corp. in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $39.01.
Intel Corp. (NASDAQ:INTC) opened at 37.14 on Monday. Intel Corp. has a one year low of $27.68 and a one year high of $38.05. The stock has a market capitalization of $175.71 billion, a P/E ratio of 18.01 and a beta of 0.93. The stock has a 50 day moving average price of $35.53 and a 200-day moving average price of $32.94.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Intel Corp. will post $2.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is currently 50.24%.
In other news, Chairman Andy D. Bryant sold 445,095 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were 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 directly owns 399,557 shares of the company’s stock, valued at approximately $13,860,632.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Gregory R. Pearson sold 250,192 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 92,826 shares of the company’s stock, valued at $3,388,149. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. James Investment Research Inc. raised its stake in Intel Corp. by 12.8% in the second quarter. James Investment Research Inc. now owns 661,825 shares of the chip maker’s stock valued at $21,708,000 after buying an additional 75,124 shares in the last quarter. Park National Corp OH raised its stake in Intel Corp. by 2.7% in the second quarter. Park National Corp OH now owns 813,717 shares of the chip maker’s stock valued at $26,689,000 after buying an additional 21,481 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Intel Corp. during the first quarter valued at approximately $132,302,000. Svenska Handelsbanken AB publ acquired a new stake in Intel Corp. during the second quarter valued at approximately $44,489,000. Finally, Alpine Investment Management LLC raised its stake in Intel Corp. by 5.6% in the first quarter. Alpine Investment Management LLC now owns 3,541,188 shares of the chip maker’s stock valued at $114,557,000 after buying an additional 188,067 shares in the last quarter. 64.77% of the stock is owned by institutional investors and hedge funds.
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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