Analysts Set Intel Co. (NASDAQ:INTC) Price Target at $60.65

Intel Co. (NASDAQ:INTC) has been given a consensus recommendation of “Hold” by the thirty-eight analysts that are presently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $60.65.

Several equities analysts have issued reports on INTC shares. BMO Capital Markets boosted their price target on Intel from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Intel in a research note on Wednesday, September 8th. They issued a “hold” rating and a $58.00 target price for the company. Morgan Stanley raised their price target on Intel from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, July 23rd. Jefferies Financial Group decreased their price objective on Intel from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Friday, July 23rd. Finally, Barclays cut their price objective on Intel from $58.00 to $50.00 and set an “underweight” rating on the stock in a research report on Friday, July 23rd.

Shares of NASDAQ:INTC traded up $1.22 during midday trading on Monday, hitting $53.48. 341,091 shares of the stock were exchanged, compared to its average volume of 27,554,445. The stock has a market capitalization of $216.97 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.50 and a beta of 0.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.63 and a current ratio of 1.99. The business’s 50-day moving average price is $53.65 and its 200 day moving average price is $56.45. Intel has a 12 month low of $43.61 and a 12 month high of $68.49.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 22nd. The chip maker reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.22. Intel had a return on equity of 27.24% and a net margin of 23.91%. The company had revenue of $18.50 billion for the quarter, compared to analysts’ expectations of $17.80 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that Intel will post 4.79 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Sunday, November 7th will be issued a $0.3475 dividend. The ex-dividend date of this dividend is Thursday, November 4th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 2.60%. Intel’s payout ratio is 26.23%.

Several large investors have recently made changes to their positions in INTC. Amundi purchased a new stake in shares of Intel in the second quarter valued at about $1,016,365,000. Third Point LLC raised its holdings in Intel by 1,300.0% during the second quarter. Third Point LLC now owns 14,000,000 shares of the chip maker’s stock worth $785,960,000 after purchasing an additional 13,000,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Intel by 407.5% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,628,572 shares of the chip maker’s stock worth $484,408,000 after purchasing an additional 6,928,482 shares in the last quarter. Capital International Investors raised its holdings in Intel by 6.7% during the first quarter. Capital International Investors now owns 99,828,667 shares of the chip maker’s stock worth $6,388,865,000 after purchasing an additional 6,279,519 shares in the last quarter. Finally, Baupost Group LLC MA raised its holdings in Intel by 28.2% during the first quarter. Baupost Group LLC MA now owns 23,305,334 shares of the chip maker’s stock worth $1,491,541,000 after purchasing an additional 5,119,765 shares in the last quarter. 62.24% of the stock is owned by institutional investors and hedge funds.

About Intel

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.

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Analyst Recommendations for Intel (NASDAQ:INTC)

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