Brean Capital Reaffirms Buy Rating for Intel Corp. (INTC)
Intel Corp. (NASDAQ:INTC)‘s stock had its “buy” rating reissued by Brean Capital in a report released on Tuesday. They currently have a $40.00 price objective on the chip maker’s stock. Brean Capital’s price target suggests a potential upside of 7.27% from the stock’s previous close.
INTC has been the topic of several other research reports. Zacks Investment Research raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Monday, September 26th. Vetr lowered shares of Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 price objective on the stock. in a research report on Monday, August 29th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Intel Corp. in a research report on Sunday, September 4th. BlueFin Research reiterated a “buy” rating on shares of Intel Corp. in a report on Monday, October 3rd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $31.00 price target on shares of Intel Corp. in a report on Wednesday, September 14th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $40.00.
Intel Corp. (NASDAQ:INTC) traded up 1.26% during mid-day trading on Tuesday, reaching $37.76. 26,522,193 shares of the company traded hands. The stock has a 50 day moving average price of $36.91 and a 200-day moving average price of $33.70. The company has a market capitalization of $178.64 billion, a P/E ratio of 18.31 and a beta of 1.09. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.06. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. Analysts expect that Intel Corp. will post $2.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.79%. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In other Intel Corp. news, CEO Brian M. Krzanich sold 67,508 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $37.71, for a total value of $2,545,726.68. Following the completion of the sale, the chief executive officer now 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 Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $34.46, for a total value of $51,896.76. Following the completion of the sale, the vice president now directly owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. 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 worth $100,000 after buying an additional 1,039 shares in the last quarter. Carnick & Kubik LLC bought a new position in Intel Corp. during the first quarter worth $100,000. 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 worth $104,000 after buying an additional 847 shares in the last quarter. 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 worth $118,000 after buying an additional 1,998 shares in the last quarter. Finally, 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 worth $113,000 after buying an additional 1,226 shares in the last quarter. 64.82% 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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