Intel Corp. (INTC) Shares Down 4.6%
Intel Corp. (NASDAQ:INTC) was down 4.6% during trading on Thursday . The stock traded as low as $33.93 and last traded at $34.06, with a volume of 36,860,915 shares traded. The stock had previously closed at $35.69.
Several equities research analysts have commented on INTC shares. Royal Bank Of Canada upped their price objective on Intel Corp. from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Friday, April 1st. Bank of America Corp. restated a “buy” rating and issued a $36.00 price objective on shares of Intel Corp. in a research report on Friday, April 1st. Credit Suisse Group AG restated a “buy” rating and issued a $40.00 price objective on shares of Intel Corp. in a research report on Friday, April 1st. Deutsche Bank AG restated a “buy” rating on shares of Intel Corp. in a research report on Saturday, April 2nd. Finally, B. Riley reiterated a “buy” rating and set a $40.00 target price on shares of Intel Corp. in a research report on Monday, April 4th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $36.66.
The company has a 50 day moving average of $32.95 and a 200 day moving average of $31.35. The stock has a market capitalization of $163.91 billion and a P/E ratio of 16.81.
Intel Corp. (NASDAQ:INTC) last issued its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.06. The company earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Equities research analysts anticipate that Intel Corp. will post $2.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Sunday, August 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Wednesday, August 3rd.
In related news, CEO Brian M. Krzanich sold 71,413 shares of Intel Corp. stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $30.35, for a total value of $2,167,384.55. Following the transaction, the chief executive officer now directly owns 462,054 shares in the company, valued at approximately $14,023,338.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William M. Holt sold 4,603 shares of Intel Corp. stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $31.35, for a total value of $144,304.05. Following the completion of the transaction, the vice president now owns 22,131 shares in the company, valued at $693,806.85. The disclosure for this sale can be found here.
Other institutional investors recently modified their holdings of the company. Agran Libbie boosted its position in shares of Intel Corp. by 9,807.2% in the fourth quarter. Agran Libbie now owns 23,731,244 shares of the chip maker’s stock worth $8,175,000 after buying an additional 23,491,708 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Intel Corp. by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 283,264,301 shares of the chip maker’s stock valued at $9,758,455,000 after buying an additional 6,429,434 shares during the period. BHF Kleinwort Benson Group S.A. acquired a new stake in shares of Intel Corp. during the fourth quarter valued at approximately $48,855,000. Dimensional Fund Advisors LP boosted its stake in shares of Intel Corp. by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 33,438,685 shares of the chip maker’s stock valued at $1,152,136,000 after buying an additional 1,157,603 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Intel Corp. during the fourth quarter valued at approximately $39,295,000.
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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