Intel Corp. (INTC) Earns Buy Rating from Jefferies Group
Intel Corp. (NASDAQ:INTC)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group in a research report issued to clients and investors on Wednesday. They presently have a $46.00 price target on the chip maker’s stock, down from their previous price target of $49.00. Jefferies Group’s price target suggests a potential upside of 30.87% from the company’s current price.
Several other research analysts have also recently commented on INTC. Royal Bank Of Canada reiterated a “hold” rating on shares of Intel Corp. in a research note on Saturday, July 9th. B. Riley restated a “buy” rating and set a $46.00 price objective (up previously from $45.00) on shares of Intel Corp. in a research note on Wednesday. Argus restated a “buy” rating and set a $41.00 price objective on shares of Intel Corp. in a research note on Monday, July 25th. Sanford C. Bernstein set a $31.00 price objective on Intel Corp. and gave the company a “hold” rating in a research note on Thursday, July 21st. Finally, MKM Partners restated a “hold” rating and set a $40.00 price objective (up previously 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 assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.91.
Intel Corp. (NASDAQ:INTC) traded down 0.79% during mid-day trading on Wednesday, hitting $35.15. The stock had a trading volume of 20,796,748 shares. The stock has a market cap of $166.40 billion, a price-to-earnings ratio of 16.49 and a beta of 1.09. The company has a 50-day moving average of $36.96 and a 200-day moving average of $33.77. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings results on Tuesday, October 18th. The chip maker reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.07. Intel Corp. had a return on equity of 20.75% and a net margin of 17.90%. The business had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.96%. Intel Corp.’s payout ratio is presently 49.06%.
In other Intel Corp. news, VP Gregory R. Pearson sold 1,866 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $34.68, for a total transaction of $64,712.88. Following the transaction, the vice president now owns 86,635 shares in the company, valued at approximately $3,004,501.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $34.71, for a total transaction of $485,835.87. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. James Investment Research Inc. increased its stake 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 period. Park National Corp OH increased its stake 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 period. Nisa Investment Advisors LLC increased its stake 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 period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Intel Corp. during the first quarter worth $132,302,000. Finally, CIBC World Markets Inc. increased its stake 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 period. 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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