Intel Corp. (INTC) PT Raised to $44.00 at Canaccord Genuity
Intel Corp. (NASDAQ:INTC) had its target price raised by equities researchers at Canaccord Genuity from $40.00 to $44.00 in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the chip maker’s stock. Canaccord Genuity’s target price suggests a potential upside of 17.49% from the company’s previous close.
A number of other research analysts have also weighed in on the stock. Morgan Stanley reissued an “underweight” rating and set a $34.00 target price on shares of Intel Corp. in a research report on Tuesday. JPMorgan Chase & Co. reissued an “overweight” rating and set a $44.00 target price (up previously from $42.00) on shares of Intel Corp. in a research report on Tuesday. Susquehanna initiated coverage on shares of Intel Corp. in a research report on Tuesday. They set a “positive” rating and a $42.00 price objective for the company. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Intel Corp. in a research report on Monday. Finally, Roth Capital upped their price objective on shares of Intel Corp. from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $39.01.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.45 on Tuesday. The stock’s 50 day moving average price is $35.62 and its 200-day moving average price is $32.97. The company has a market cap of $177.18 billion, a PE ratio of 18.16 and a beta of 0.93. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.05.
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, topping the Zacks’ consensus estimate of $0.53 by $0.06. The firm earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities research analysts forecast that Intel Corp. will post $2.57 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.78%. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
In other news, CEO Brian M. Krzanich sold 71,413 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.73, for a total value of $2,337,347.49. Following the transaction, the chief executive officer now owns 435,796 shares in the company, valued at approximately $14,263,603.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $34.71, for a total transaction of $485,835.87. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Pioneer Investment Management Inc. increased 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 worth $5,834,000 after buying an additional 83,945 shares during the period. First American Bank increased its position in Intel Corp. by 4.1% in the first quarter. First American Bank now owns 133,085 shares of the chip maker’s stock worth $4,305,000 after buying an additional 5,218 shares during the last quarter. New England Research & Management Inc. increased its position in 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 worth $1,311,000 after buying an additional 1,550 shares during the last quarter. Trust Co. of Virginia VA increased its position in 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. Finally, Chevy Chase Trust Holdings Inc. increased its position in 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. Hedge funds and other institutional investors own 64.77% of the company’s stock.
Intel Corp. Company Profile
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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