Robert W. Baird Raises Intel Corp. (INTC) Price Target to $42.00
Intel Corp. (NASDAQ:INTC) had its target price lifted by Robert W. Baird from $40.00 to $42.00 in a research note issued to investors on Monday morning. The brokerage currently has an outperform rating on the chip maker’s stock.
A number of other brokerages have also recently issued reports on INTC. B. Riley restated a buy rating and set a $45.00 target price (up previously from $42.00) on shares of Intel Corp. in a report on Friday, September 16th. Jefferies Group raised their price target on Intel Corp. from $44.00 to $49.00 and gave the stock a buy rating in a research report on Monday. Mizuho raised their price target on Intel Corp. from $38.00 to $42.00 and gave the stock a buy rating in a research report on Monday. Argus raised their price target on Intel Corp. from $41.00 to $45.00 and gave the stock a buy rating in a research report on Monday. Finally, Credit Agricole SA raised their price target on Intel Corp. from $35.00 to $37.00 and gave the stock an underperform rating in a research report on Monday. Three 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 stock. Intel Corp. currently has a consensus rating of Buy and an average price target of $39.01.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.45 on Monday. The company has a market cap of $177.18 billion, a PE ratio of 18.16 and a beta of 0.93. The firm’s 50-day moving average price is $35.62 and its 200-day moving average price is $32.97. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.05.
Intel Corp. (NASDAQ:INTC) last issued its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. During the same quarter last year, the business earned $0.55 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Intel Corp. will post $2.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given 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 2.78%. Intel Corp.’s payout ratio is 50.24%.
In other news, EVP Venkata S. M. Renduchintala sold 13,997 shares of Intel Corp. stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $34.71, for a total value of $485,835.87. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Gregory R. Pearson sold 1,506 shares of Intel Corp. stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the completion of the transaction, the vice president now owns 84,505 shares in the company, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pioneer Investment Management Inc. boosted its stake in 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 National Bank of Mount Dora Trust Investment Services boosted its stake in Intel Corp. by 5.3% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 118,499 shares of the chip maker’s stock valued at $3,834,000 after buying an additional 5,913 shares during the last quarter. Hollencrest Securities LLC boosted its stake in Intel Corp. by 3.2% in the first quarter. Hollencrest Securities LLC now owns 72,054 shares of the chip maker’s stock valued at $2,331,000 after buying an additional 2,211 shares during the last quarter. Stillwater Investment Management LLC boosted its stake in Intel Corp. by 0.7% in the first quarter. Stillwater Investment Management LLC now owns 43,654 shares of the chip maker’s stock valued at $1,328,000 after buying an additional 324 shares during the last quarter. Finally, First American Bank boosted its stake in 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. Hedge funds and other 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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