KeyCorp Raises Intel Corp. (INTC) Price Target to $44.00
Other analysts have also issued research reports about the stock. B. Riley reaffirmed a buy rating and set a $42.00 price objective on shares of Intel Corp. in a report on Wednesday, August 17th. Robert W. Baird raised their price objective on shares of Intel Corp. from $40.00 to $42.00 and gave the stock an outperform rating in a report on Monday, September 19th. Brean Capital reaffirmed a buy rating and set a $40.00 price objective (up previously from $38.00) on shares of Intel Corp. in a report on Thursday, September 22nd. Zacks Investment Research raised shares of Intel Corp. from a hold rating to a buy rating and set a $42.00 price objective for the company in a report on Monday, September 26th. Finally, Citigroup Inc. reaffirmed a neutral rating and set a $35.00 price objective on shares of Intel Corp. in a report on Wednesday, August 17th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $39.59.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.99 on Monday. Intel Corp. has a one year low of $27.68 and a one year high of $38.31. The company has a 50-day moving average price of $36.38 and a 200 day moving average price of $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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. 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 $2.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In related news, CEO Brian M. Krzanich sold 67,508 shares of Intel Corp. stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $37.71, for a total value of $2,545,726.68. Following the transaction, the chief executive officer now directly owns 420,506 shares of the company’s stock, valued at $15,857,281.26. The sale was disclosed in a legal filing with the SEC, 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 transaction of $51,896.76. Following the completion of the transaction, the vice president now directly owns 84,505 shares in the company, valued at $2,912,042.30. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of 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 increased its position in shares of 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 last quarter. Penserra Capital Management LLC increased its position in shares of 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 last quarter. Nelson Roberts Investment Advisors LLC increased its position in shares of 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 last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of 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 last quarter. 64.77% of the stock is currently owned by 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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