Intel Corporation (INTC) Upgraded to “Outperform” at BMO Capital Markets
Several other brokerages have also issued reports on INTC. Zacks Investment Research lowered Intel Corporation from a hold rating to a sell rating in a research note on Monday, July 17th. Stifel Nicolaus reiterated a buy rating and issued a $39.00 price objective on shares of Intel Corporation in a research note on Friday, July 14th. Credit Suisse Group reiterated a neutral rating and issued a $35.00 price objective on shares of Intel Corporation in a research note on Tuesday, July 4th. ValuEngine lowered Intel Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. Finally, Raymond James Financial, Inc. reiterated an underperform rating on shares of Intel Corporation in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $42.80.
Shares of Intel Corporation (INTC) traded up 2.75% during midday trading on Monday, reaching $45.59. The company’s stock had a trading volume of 36,807,759 shares. The stock has a market capitalization of $214.23 billion, a P/E ratio of 17.40 and a beta of 1.07. The stock’s 50-day moving average is $38.97 and its 200 day moving average is $36.36. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $45.80.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. The business had revenue of $16.15 billion for the quarter, compared to analyst estimates of $15.73 billion. Intel Corporation had a return on equity of 22.65% and a net margin of 22.31%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. On average, analysts expect that Intel Corporation will post $3.24 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s payout ratio is 38.11%.
In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of the stock in a transaction 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 transaction, the insider now 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 SEC, which is available through the SEC website. Also, EVP Diane M. Bryant sold 2,119 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $41.06, for a total transaction of $87,006.14. Following the transaction, the executive vice president now directly owns 114,091 shares in the company, valued at approximately $4,684,576.46. The disclosure for this sale can be found here. Insiders sold a total of 67,042 shares of company stock worth $2,602,348 in the last three months. Insiders own 0.08% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Intel Corporation by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after acquiring an additional 8,087,302 shares during the last quarter. Capital World Investors grew its holdings in Intel Corporation by 5.5% in the 2nd quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after acquiring an additional 10,257,260 shares during the last quarter. Capital Research Global Investors grew its holdings in Intel Corporation by 9.1% in the 2nd quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock worth $4,338,344,000 after acquiring an additional 10,744,753 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Intel Corporation by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 50,601,299 shares of the chip maker’s stock worth $1,707,253,000 after acquiring an additional 177,919 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Intel Corporation by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 25,508,803 shares of the chip maker’s stock worth $860,658,000 after acquiring an additional 412,747 shares during the last quarter. 67.07% of the stock is currently owned by institutional investors.
About Intel Corporation
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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