Intel Corp. (INTC) Receives “Outperform” Rating from Wells Fargo & Co.
Wells Fargo & Co. reiterated their outperform rating on shares of Intel Corp. (NASDAQ:INTC) in a research report report published on Monday. They currently have a $45.00 price target on the chip maker’s stock.
INTC has been the topic of a number of other research reports. Royal Bank Of Canada restated a hold rating on shares of Intel Corp. in a research note on Saturday, July 9th. B. Riley reiterated a buy rating and issued a $42.00 target price on shares of Intel Corp. in a research note on Thursday, July 21st. Argus reiterated a buy rating and issued a $41.00 target price on shares of Intel Corp. in a research note on Monday, July 25th. Sanford C. Bernstein set a $31.00 target price on Intel Corp. and gave the company a hold rating in a research note on Thursday, July 21st. Finally, MKM Partners reiterated a hold rating and issued a $40.00 target price (up from $39.00) on shares of Intel Corp. in a research note on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-three have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $40.00.
Intel Corp. (NASDAQ:INTC) traded up 1.4897% during trading on Monday, reaching $37.8455. The company’s stock had a trading volume of 4,009,331 shares. The stock has a 50 day moving average price of $36.91 and a 200 day moving average price of $33.70. The stock has a market capitalization of $179.05 billion, a PE ratio of 18.3538 and a beta of 1.09. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.36.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 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 business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders 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 yield of 2.79%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s payout ratio is currently 50.24%.
In other Intel Corp. news, CEO Brian M. Krzanich sold 67,508 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the transaction, the chief executive officer now directly owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory R. Pearson sold 250,192 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the transaction, the vice president now directly owns 92,826 shares in the company, valued at $3,388,149. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of INTC. James Investment Research Inc. increased its position in shares of Intel Corp. by 12.8% in the second quarter. James Investment Research Inc. now owns 661,825 shares of the chip maker’s stock worth $21,708,000 after buying an additional 75,124 shares during the last quarter. Park National Corp OH increased its position in shares of Intel Corp. by 2.7% in the second quarter. Park National Corp OH now owns 813,717 shares of the chip maker’s stock worth $26,689,000 after buying an additional 21,481 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Intel Corp. by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,796,286 shares of the chip maker’s stock worth $58,917,000 after buying an additional 89,568 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Intel Corp. during the first quarter worth about $132,302,000. Finally, CIBC World Markets Inc. increased its position in shares of Intel Corp. by 14.2% in the second quarter. CIBC World Markets Inc. now owns 532,676 shares of the chip maker’s stock worth $17,472,000 after buying an additional 66,041 shares during the last quarter. 64.82% 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.
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