Intel Corp. (INTC) Earns Overweight Rating from JPMorgan Chase & Co.
JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Intel Corp. (NASDAQ:INTC) in a research report released on Tuesday. The firm currently has a $44.00 target price on the chip maker’s stock, up from their prior target price of $42.00.
A number of other research analysts have also commented on the company. Susquehanna began coverage on Intel Corp. in a report on Tuesday. They set a positive rating and a $42.00 price objective on the stock. Sanford C. Bernstein reaffirmed a hold rating on shares of Intel Corp. in a report on Monday. Roth Capital raised their target price on Intel Corp. from $40.00 to $43.00 and gave the company a buy rating in a report on Monday. Citigroup Inc. raised their target price on Intel Corp. from $35.00 to $38.00 and gave the company a neutral rating in a report on Monday. Finally, Credit Suisse Group AG reaffirmed an outperform rating and issued a $40.00 target price on shares of Intel Corp. in a report on Monday. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty-one have assigned a buy rating to the stock. Intel Corp. has a consensus rating of Buy and a consensus price target of $39.06.
Intel Corp. (NASDAQ:INTC) opened at 37.55 on Tuesday. The company’s 50-day moving average price is $35.71 and its 200-day moving average price is $33.00. The company has a market capitalization of $177.65 billion, a P/E ratio of 18.21 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 issued its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, equities analysts forecast that Intel Corp. will post $2.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is currently 50.24%.
In related news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $34.71, for a total value of $485,835.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory R. Pearson sold 1,506 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the sale, the vice president now directly owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in INTC. Day & Ennis LLC raised its stake in shares of Intel Corp. by 0.4% in the second quarter. Day & Ennis LLC now owns 7,459 shares of the chip maker’s stock worth $245,000 after buying an additional 27 shares in the last quarter. D. Scott Neal Inc. raised its position in shares of Intel Corp. by 0.7% in the second quarter. D. Scott Neal Inc. now owns 4,969 shares of the chip maker’s stock valued at $163,000 after buying an additional 35 shares during the period. Amarillo National Bank raised its position in shares of Intel Corp. by 0.3% in the first quarter. Amarillo National Bank now owns 14,739 shares of the chip maker’s stock valued at $477,000 after buying an additional 37 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in shares of Intel Corp. by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 4,496 shares of the chip maker’s stock valued at $147,000 after buying an additional 37 shares during the period. Finally, Beaumont Financial Partners LLC raised its position in shares of Intel Corp. by 0.6% in the second quarter. Beaumont Financial Partners LLC now owns 8,070 shares of the chip maker’s stock valued at $265,000 after buying an additional 48 shares during the period. 64.77% of the stock is owned by hedge funds and other institutional investors.
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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