Intel Corp. (INTC) PT Raised to $38.00 at Citigroup Inc.
Intel Corp. (NASDAQ:INTC) had its price objective upped by Citigroup Inc. from $35.00 to $38.00 in a research note released on Monday. The brokerage currently has a neutral rating on the chip maker’s stock.
Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada reiterated a hold rating on shares of Intel Corp. in a research report on Saturday, July 9th. B. Riley restated a buy rating and issued a $42.00 price target on shares of Intel Corp. in a research report on Tuesday, July 26th. Wells Fargo & Co. reaffirmed a buy rating on shares of Intel Corp. in a research note on Sunday, September 4th. Argus reaffirmed a buy rating and issued a $41.00 price objective on shares of Intel Corp. in a research note on Monday, July 25th. Finally, Sanford C. Bernstein set a $31.00 price objective on shares of Intel Corp. and gave the company a hold rating in a research note on Thursday, July 21st. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty-one have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $39.06.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.55 on Monday. The stock’s 50 day moving average is $35.71 and its 200 day moving average is $33.00. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.05. The company has a market capitalization of $177.65 billion, a PE ratio of 18.21 and a beta of 0.93.
Intel Corp. (NASDAQ:INTC) last issued its earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. The company earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. On average, equities research analysts anticipate that Intel Corp. will post $2.57 EPS for the current fiscal year.
The business 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. This represents a $1.04 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s payout ratio is 50.24%.
In other news, VP Gregory R. Pearson sold 250,192 shares of Intel Corp. stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $36.50, for a total value of $9,132,008.00. Following the completion of the sale, the vice president now owns 92,826 shares of the company’s stock, valued at $3,388,149. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 71,413 shares of Intel Corp. stock in a transaction on Friday, July 1st. The shares were 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 directly 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. Company insiders own 0.09% of the company’s stock.
Large investors have recently made changes to their positions in the stock. James Investment Research Inc. increased its stake 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 worth $21,708,000 after buying an additional 75,124 shares in the last quarter. Park National Corp OH increased its stake 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 worth $26,689,000 after buying an additional 21,481 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Intel Corp. during the first quarter worth approximately $132,302,000. Svenska Handelsbanken AB publ acquired a new stake in shares of Intel Corp. during the second quarter worth approximately $44,489,000. Finally, Alpine Investment Management LLC increased its stake 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 worth $114,557,000 after buying an additional 188,067 shares in the last quarter. 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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