Intel Corp. (INTC) Downgraded by Vetr Inc. to “Buy”
Vetr cut shares of Intel Corp. (NASDAQ:INTC) from a strong-buy rating to a buy rating in a research report released on Wednesday morning. They currently have $41.20 price target on the chip maker’s stock.
Several other brokerages also recently issued reports on INTC. B. Riley reiterated a buy rating and issued a $42.00 target price on shares of Intel Corp. in a research note on Wednesday, August 17th. Robert W. Baird raised their target price on shares of Intel Corp. from $40.00 to $42.00 and gave the company an outperform rating in a research note on Monday, September 19th. Brean Capital reiterated a buy rating and issued a $40.00 target price (up from $38.00) on shares of Intel Corp. in a research note on Thursday, September 22nd. Zacks Investment Research upgraded shares of Intel Corp. from a hold rating to a buy rating and set a $42.00 target price for the company in a research note on Monday, September 26th. Finally, Citigroup Inc. reiterated a neutral rating and issued a $35.00 target price on shares of Intel Corp. in a research note on Wednesday, August 17th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-three have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $39.73.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.29 on Wednesday. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36. The firm’s 50-day moving average price is $36.91 and its 200-day moving average price is $33.70. The firm has a market capitalization of $176.42 billion, a P/E ratio of 18.08 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, topping 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 the consensus estimate of $13.54 billion. During the same period in the prior year, the business posted $0.55 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts predict that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is presently 50.24%.
In other Intel Corp. news, Chairman Andy D. Bryant sold 445,095 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $34.69, for a total transaction of $15,440,345.55. Following the completion of the sale, the chairman now directly owns 399,557 shares of the company’s stock, valued at $13,860,632.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.46, for a total transaction of $51,896.76. Following the sale, 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 currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. bought a new position in Intel Corp. during the second quarter valued at about $295,226,000. Dimensional Fund Advisors LP raised its stake in 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. Capital World Investors raised its stake in 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. Institutional Capital LLC raised its stake in Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock valued at $329,388,000 after buying an additional 7,969,512 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in 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. 64.82% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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