Intel Corp. (INTC) Downgraded to “Buy” at Vetr Inc.
Vetr lowered shares of Intel Corp. (NASDAQ:INTC) from a strong-buy rating to a buy rating in a research note published on Wednesday. They currently have $41.20 price target on the chip maker’s stock.
A number of other research firms have also weighed in on INTC. Royal Bank Of Canada reaffirmed a hold rating on shares of Intel Corp. in a research note on Saturday, July 9th. B. Riley reaffirmed a buy rating and issued a $42.00 price objective on shares of Intel Corp. in a research note on Thursday, July 21st. Robert W. Baird raised their price objective on shares of Intel Corp. from $38.00 to $40.00 and gave the company an outperform rating in a research note on Tuesday, September 6th. Citigroup Inc. reaffirmed a neutral rating and issued a $35.00 price objective (up from $31.00) on shares of Intel Corp. in a research note on Thursday, June 30th. Finally, Cowen and Company raised their price objective on shares of Intel Corp. from $36.00 to $38.00 and gave the company a market perform rating in a research note on Friday, September 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-two have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $39.64.
Intel Corp. (NASDAQ:INTC) opened at 36.77 on Wednesday. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.36. The firm has a market capitalization of $173.96 billion, a price-to-earnings ratio of 17.83 and a beta of 1.09. The stock’s 50 day moving average is $36.74 and its 200 day moving average is $33.59.
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 Thomson Reuters’ consensus estimate of $0.53 by $0.06. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. Intel Corp.’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Analysts predict that Intel Corp. will post $2.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s payout ratio is currently 50.24%.
In other Intel Corp. news, VP Gregory R. Pearson sold 5,662 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $34.87, for a total transaction of $197,433.94. Following the transaction, the vice president now owns 86,635 shares in the company, valued at $3,020,962.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the transaction, the vice president now owns 84,505 shares in the company, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of INTC. Canandaigua National Bank & Trust Co. boosted its position in shares of Intel Corp. by 4.6% in the third quarter. Canandaigua National Bank & Trust Co. now owns 90,814 shares of the chip maker’s stock worth $3,428,000 after buying an additional 3,962 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of Intel Corp. by 28.7% in the third quarter. Prospera Financial Services Inc now owns 33,998 shares of the chip maker’s stock worth $1,284,000 after buying an additional 7,582 shares in the last quarter. Morgens Waterfall Vintiadis & Co. Inc. bought a new position in shares of Intel Corp. during the third quarter worth approximately $4,153,000. Patten & Patten Inc. TN boosted its position in shares of Intel Corp. by 3.4% in the third quarter. Patten & Patten Inc. TN now owns 295,988 shares of the chip maker’s stock worth $11,174,000 after buying an additional 9,750 shares in the last quarter. Finally, Atria Investments LLC boosted its position in shares of Intel Corp. by 32.2% in the third quarter. Atria Investments LLC now owns 45,508 shares of the chip maker’s stock worth $1,718,000 after buying an additional 11,077 shares in the last quarter. Institutional investors own 64.77% of the company’s stock.
Intel Corp. Company Profile
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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