Intel Corp. (INTC) Upgraded to “Overweight” by Barclays PLC
Intel Corp. (NASDAQ:INTC) was upgraded by research analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday. The firm currently has a $45.00 price target on the chip maker’s stock, up from their previous price target of $38.00. Barclays PLC’s price objective points to a potential upside of 20.68% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other equities research analysts have also recently commented on the company. Cowen and Company restated a “market perform” rating and issued a $36.00 target price (up previously from $32.00) on shares of Intel Corp. in a research note on Monday, July 11th. Evercore ISI upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Tuesday, September 6th. Vetr upgraded Intel Corp. from a “buy” rating to a “strong-buy” rating and set a $41.44 target price on the stock in a research note on Monday, September 26th. Royal Bank Of Canada boosted their target price on Intel Corp. from $33.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday, July 8th. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $36.00 price objective on shares of Intel Corp. in a research note on Wednesday, August 31st. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-three have given a buy rating to the stock. Intel Corp. has an average rating of “Buy” and an average target price of $40.00.
Shares of Intel Corp. (NASDAQ:INTC) traded up 1.85% during trading on Tuesday, reaching $37.98. The company’s stock had a trading volume of 8,081,235 shares. The stock’s 50 day moving average price is $36.91 and its 200 day moving average price is $33.70. Intel Corp. has a 52 week low of $27.68 and a 52 week high of $38.36. The company has a market cap of $179.68 billion, a PE ratio of 18.42 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last released its earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. Equities research analysts predict that Intel Corp. will post $2.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is presently 50.24%.
In related news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $34.71, for a total value of $485,835.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the transaction, the vice president now directly owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new position in shares of Intel Corp. during the second quarter worth approximately $295,226,000. Dimensional Fund Advisors LP raised 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 in the last quarter. Capital World Investors raised 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 in the last quarter. Institutional Capital LLC raised 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 in the last quarter. Finally, Vanguard Group Inc. raised 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 in the last quarter. 64.82% of the stock is owned by institutional investors.
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.
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