Intel Corp. (INTC) PT Raised to $38.00 at Citigroup Inc.
Intel Corp. (NASDAQ:INTC) had its price objective lifted by Citigroup Inc. from $35.00 to $38.00 in a report released on Monday morning. They currently have a neutral rating on the chip maker’s stock.
Several other brokerages also recently issued reports on INTC. Sanford C. Bernstein set a $26.00 target price on shares of Intel Corp. and gave the company a sell rating in a research note on Monday, May 30th. Sterne Agee CRT reiterated a buy rating and issued a $38.00 price objective on shares of Intel Corp. in a report on Tuesday, May 31st. Vetr cut 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 report on Wednesday, June 8th. Wells Fargo & Co. reiterated a buy rating on shares of Intel Corp. in a report on Wednesday, June 8th. Finally, Pacific Crest upgraded shares of Intel Corp. to an outperform rating in a report on Monday, June 13th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $39.06.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.55 on Monday. The stock has a 50 day moving average price of $35.71 and a 200-day moving average price of $33.00. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.05. The stock has a market cap of $177.65 billion, a P/E ratio of 18.21 and a beta of 0.93.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company earned $13.50 billion during the quarter, compared to the consensus estimate of $13.54 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts forecast 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. Investors of record on Monday, November 7th will be given a $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.77%. Intel Corp.’s dividend payout ratio is presently 50.24%.
In other Intel Corp. news, VP Gregory R. Pearson sold 250,192 shares of the 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 sale, the vice president now owns 92,826 shares in the company, valued at $3,388,149. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Andy D. Bryant sold 445,095 shares of the stock in a transaction 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 disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Carnick & Kubik LLC purchased a new position in shares of Intel Corp. during the first quarter valued at approximately $100,000. Global X Management Co. LLC raised its position in Intel Corp. by 52.0% in the second quarter. Global X Management Co. LLC now owns 3,037 shares of the chip maker’s stock valued at $100,000 after buying an additional 1,039 shares during the period. Penserra Capital Management LLC raised its position in Intel Corp. by 36.3% in the second quarter. Penserra Capital Management LLC now owns 3,178 shares of the chip maker’s stock valued at $104,000 after buying an additional 847 shares during the period. Nelson Roberts Investment Advisors LLC raised its position in Intel Corp. by 55.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 3,443 shares of the chip maker’s stock valued at $113,000 after buying an additional 1,226 shares during the period. Finally, Proficio Capital Partners LLC raised its position in Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock valued at $118,000 after buying an additional 1,998 shares during the period. 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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