Intel Corporation’s (INTC) “Buy” Rating Reaffirmed at Argus
Several other equities research analysts also recently issued reports on INTC. B. Riley restated a buy rating and set a $44.00 price objective on shares of Intel Corporation in a research report on Wednesday, May 3rd. BidaskClub upgraded shares of Intel Corporation from a hold rating to a buy rating in a research report on Thursday, August 10th. Vetr downgraded shares of Intel Corporation from a strong-buy rating to a buy rating and set a $40.26 price target for the company. in a research report on Tuesday, August 8th. Jefferies Group LLC set a $38.00 price target on shares of Intel Corporation and gave the company a hold rating in a research report on Saturday, June 3rd. Finally, Sanford C. Bernstein set a $30.00 price target on shares of Intel Corporation and gave the company a sell rating in a research report on Tuesday, August 15th. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $40.58.
Shares of Intel Corporation (NASDAQ:INTC) traded down 0.12% on Wednesday, hitting $34.67. The stock had a trading volume of 14,726,829 shares. The firm’s 50-day moving average is $35.18 and its 200 day moving average is $35.58. The stock has a market cap of $162.91 billion, a P/E ratio of 13.23 and a beta of 1.01. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. Equities analysts forecast that Intel Corporation will post $3.01 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Thursday, August 3rd. Intel Corporation’s dividend payout ratio is currently 41.76%.
In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.40, for a total transaction of $51,833.60. Following the completion of the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the transaction, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock valued at $3,130,162 over the last three months. Insiders own 0.09% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pegasus Partners Ltd. increased its position in Intel Corporation by 2.7% in the fourth quarter. Pegasus Partners Ltd. now owns 97,889 shares of the chip maker’s stock valued at $3,550,000 after buying an additional 2,589 shares during the period. Kentucky Retirement Systems acquired a new position in Intel Corporation during the fourth quarter valued at approximately $12,473,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Intel Corporation during the fourth quarter valued at approximately $5,565,000. Searle & CO. acquired a new position in Intel Corporation during the fourth quarter valued at approximately $3,184,000. Finally, Philadelphia Trust Co. increased its position in Intel Corporation by 849.0% in the fourth quarter. Philadelphia Trust Co. now owns 188,377 shares of the chip maker’s stock valued at $6,832,000 after buying an additional 168,527 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.
Intel Corporation Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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