Mizuho Boosts Intel Corp. (INTC) Price Target to $42.00
Intel Corp. (NASDAQ:INTC) had its price objective boosted by Mizuho from $38.00 to $42.00 in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the chip maker’s stock.
INTC has been the subject of several other research reports. B. Riley reiterated a buy rating and issued a $45.00 price objective (up previously from $42.00) on shares of Intel Corp. in a research report on Friday, September 16th. Cowen and Company boosted their price objective on Intel Corp. from $36.00 to $38.00 and gave the company a market perform rating in a research report on Friday, September 16th. Morgan Stanley reiterated an underweight rating and issued a $31.00 price objective on shares of Intel Corp. in a research report on Wednesday, September 14th. Wells Fargo & Co. reiterated an outperform rating on shares of Intel Corp. in a research report on Tuesday, September 13th. Finally, Credit Suisse Group AG reiterated a buy rating and issued a $40.00 price objective on shares of Intel Corp. in a research report on Monday, September 12th. 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’s stock. The stock presently has a consensus rating of Buy and an average target price of $39.01.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.45 on Monday. The firm’s 50-day moving average is $35.62 and its 200-day moving average is $32.97. The firm has a market cap of $177.18 billion, a P/E ratio of 18.16 and a beta of 0.93. Intel Corp. has a 52-week low of $27.68 and a 52-week 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 company 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%. Intel Corp.’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Analysts anticipate that Intel Corp. will post $2.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.78%. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In other news, CEO Brian M. Krzanich sold 71,413 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $32.73, for a total value of $2,337,347.49. Following the completion of the transaction, the chief executive officer now owns 435,796 shares of the company’s stock, valued at approximately $14,263,603.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Andy D. Bryant sold 445,095 shares of the business’s stock in a transaction dated 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 transaction, the chairman now directly 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 insiders.
Several institutional investors have recently modified their holdings of the stock. James Investment Research Inc. boosted its position in shares of 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 during the period. Park National Corp OH boosted its position in shares of 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 during the period. NN Investment Partners Holdings N.V. bought a new position in shares of Intel Corp. during the first quarter valued at about $132,302,000. Svenska Handelsbanken AB publ bought a new position in shares of Intel Corp. during the second quarter valued at about $44,489,000. Finally, Alpine Investment Management LLC boosted its position in shares of 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 during the period. 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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