Credit Agricole SA Increases Intel Corp. (INTC) Price Target to $37.00
Intel Corp. (NASDAQ:INTC) had its target price upped by Credit Agricole SA from $35.00 to $37.00 in a research note issued to investors on Monday morning. They currently have an underperform rating on the chip maker’s stock.
A number of other brokerages have also recently commented on INTC. Vetr cut Intel Corp. from a hold rating to a sell rating and set a $34.32 price target for the company. in a research note on Monday, August 29th. Wells Fargo & Co. reissued a buy rating on shares of Intel Corp. in a research note on Sunday, September 4th. Morgan Stanley reissued an underweight rating and set a $31.00 target price on shares of Intel Corp. in a research note on Wednesday, September 14th. Canaccord Genuity reissued a buy rating and set a $40.00 target price on shares of Intel Corp. in a research note on Tuesday, August 23rd. Finally, Oppenheimer Holdings Inc. reissued a market perform rating on shares of Intel Corp. in a research note on Friday, August 19th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty-one have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $39.06.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.55 on Monday. The firm has a market capitalization of $177.65 billion, a PE ratio of 18.21 and a beta of 0.93. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.05. The firm has a 50-day moving average of $35.71 and a 200-day moving average of $33.00.
Intel Corp. (NASDAQ:INTC) last released its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Intel Corp. will post $2.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.77%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
In other Intel Corp. news, Chairman Andy D. Bryant sold 445,095 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $13,860,632.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian M. Krzanich sold 71,413 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 435,796 shares of the company’s stock, valued at approximately $14,263,603.08. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Intel Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 299,534,545 shares of the chip maker’s stock valued at $9,824,733,000 after buying an additional 5,697,051 shares during the period. Capital World Investors boosted its stake in Intel Corp. by 5.1% in the second quarter. Capital World Investors now owns 167,047,690 shares of the chip maker’s stock valued at $5,479,164,000 after buying an additional 8,095,076 shares during the period. Capital Research Global Investors boosted its stake in Intel Corp. by 4.8% in the second quarter. Capital Research Global Investors now owns 103,104,372 shares of the chip maker’s stock valued at $3,381,823,000 after buying an additional 4,719,872 shares during the period. Dimensional Fund Advisors LP boosted its stake in Intel Corp. by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 45,685,548 shares of the chip maker’s stock valued at $1,498,217,000 after buying an additional 8,662,708 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Intel Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 44,204,897 shares of the chip maker’s stock valued at $1,427,513,000 after buying an additional 2,414,858 shares during the period. Institutional investors and hedge funds 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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