Intel Corp.’s (INTC) “Buy” Rating Reiterated at BlueFin Research
A number of other equities research analysts have also commented on the stock. Cowen and Company reiterated a market perform rating and set a $36.00 price target (up from $32.00) on shares of Intel Corp. in a report on Monday, July 11th. Evercore ISI raised shares of Intel Corp. from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research report on Tuesday, September 6th. Vetr raised shares of Intel Corp. from a buy rating to a strong-buy rating and set a $41.44 price objective on the stock in a research report on Monday, September 26th. Royal Bank Of Canada boosted their price objective on shares of Intel Corp. from $33.00 to $34.00 and gave the company a sector perform rating in a research report on Friday, July 8th. Finally, RBC Capital Markets reissued a sector perform rating and set a $36.00 price objective on shares of Intel Corp. in a research report on Wednesday, August 31st. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $39.59.
Intel Corp. (NASDAQ:INTC) opened at 37.99 on Monday. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.31. The company’s 50 day moving average is $36.38 and its 200-day moving average is $33.40. The company has a market capitalization of $179.73 billion, a price-to-earnings ratio of 18.42 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings results 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. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. During the same period in the prior year, the business posted $0.55 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Intel Corp. will post $2.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.74%. Intel Corp.’s dividend payout ratio is currently 50.24%.
In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory R. Pearson sold 1,506 shares of Intel Corp. stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the transaction, the vice president now directly owns 84,505 shares of the company’s stock, valued at $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of INTC. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Capital World Investors boosted its position in shares of 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 in the last quarter. Capital Research Global Investors boosted its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of 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 in the last quarter. 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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