KeyCorp Raises Intel Corp. (INTC) Price Target to $44.00
Intel Corp. (NASDAQ:INTC) had its price target raised by equities research analysts at KeyCorp from $42.00 to $44.00 in a note issued to investors on Monday. The brokerage presently has an “overweight” rating on the chip maker’s stock. KeyCorp’s target price would indicate a potential upside of 16.56% from the company’s current price.
A number of other research firms have also issued reports on INTC. B. Riley reiterated a “buy” rating and set a $42.00 price objective on shares of Intel Corp. in a research note on Wednesday, August 17th. Robert W. Baird boosted their price objective on 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 set a $40.00 price objective (up from $38.00) on shares of Intel Corp. in a research note on Thursday, September 22nd. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Monday, September 26th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $35.00 price objective on shares of Intel Corp. in a research note on Wednesday, August 17th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $39.46.
Shares of Intel Corp. (NASDAQ:INTC) traded up 0.252% during trading on Monday, hitting $37.845. The stock had a trading volume of 3,268,475 shares. The firm has a 50-day moving average price of $36.13 and a 200 day moving average price of $33.27. Intel Corp. has a 52 week low of $27.68 and a 52 week high of $38.05. The company has a market capitalization of $179.04 billion, a PE ratio of 18.354 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Intel Corp. will post $2.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s payout ratio is presently 50.24%.
In other news, CFO Stacy J. Smith sold 29,497 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the transaction, the chief financial officer now directly owns 263,772 shares of the company’s stock, valued at $9,092,220.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $34.71, for a total value of $485,835.87. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Several institutional investors have recently modified their holdings of INTC. Emerald Acquisition Ltd. acquired a new position in shares of Intel Corp. during the second quarter worth about $295,226,000. Dimensional Fund Advisors LP increased its position 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 during the last quarter. Capital World Investors increased its position 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 during the last quarter. Institutional Capital LLC increased its position 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 during the last quarter. Finally, Vanguard Group Inc. increased its position 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 during the last quarter. 64.77% of the stock is currently owned by institutional investors and hedge funds.
About Intel Corp.
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.
Receive News & Stock Ratings for Intel Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel Corp. and related stocks with our FREE daily email newsletter.