Intel Corp. (INTC) Price Target Raised to $45.00 at Argus
INTC has been the subject of several other reports. Wells Fargo & Co. reiterated a buy rating on shares of Intel Corp. in a research note on Wednesday, June 8th. Vetr downgraded shares of Intel Corp. from a strong-buy rating to a buy rating and set a $34.92 price objective for the company. in a research note on Wednesday, June 8th. Sterne Agee CRT reiterated a buy rating and set a $38.00 price objective on shares of Intel Corp. in a research note on Tuesday, May 31st. Zacks Investment Research upgraded shares of Intel Corp. from a hold rating to a buy rating and set a $36.00 price objective for the company in a research note on Tuesday, June 21st. Finally, Canaccord Genuity lifted their price objective on shares of Intel Corp. from $38.00 to $40.00 and gave the stock a buy rating in a research note on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty-one have assigned a buy rating to the company’s stock. Intel Corp. presently has a consensus rating of Buy and a consensus target price of $39.06.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.55 on Monday. Intel Corp. has a 52 week low of $27.68 and a 52 week high of $38.05. The firm has a 50-day moving average price of $35.71 and a 200-day moving average price of $33.00. The stock has a market cap of $177.65 billion, a price-to-earnings ratio of 18.21 and a beta of 0.93.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ 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 net margin of 17.84% and a return on equity of 19.99%. Intel Corp.’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.55 earnings per share. On average, equities analysts anticipate that Intel Corp. will post $2.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid 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 2.77%. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In related news, Chairman Andy D. Bryant sold 445,095 shares of Intel Corp. stock in a transaction on 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 sale, the chairman now owns 399,557 shares in the company, valued at $13,860,632.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of Intel Corp. stock in a transaction 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 corporate insiders.
Several hedge funds have recently modified their holdings of INTC. Emerald Acquisition Ltd. bought a new stake in shares of Intel Corp. during the second quarter worth about $295,226,000. Dimensional Fund Advisors LP raised 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 last quarter. Capital World Investors raised 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 last quarter. Institutional Capital LLC raised its stake in Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock valued at $329,388,000 after buying an additional 7,969,512 shares during the last quarter. Finally, Vanguard Group Inc. raised 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 last quarter. Institutional investors and hedge funds 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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