Intel Corp. (INTC) Given New $37.00 Price Target at Royal Bank Of Canada
Intel Corp. (NASDAQ:INTC) had its price objective cut by investment analysts at Royal Bank Of Canada from $38.00 to $37.00 in a research report issued on Wednesday. The brokerage currently has a “sector perform” rating on the chip maker’s stock. Royal Bank Of Canada’s target price would indicate a potential downside of 1.99% from the company’s previous close.
Several other research firms have also recently weighed in on INTC. B. Riley restated a “buy” rating and issued a $42.00 price objective on shares of Intel Corp. in a research report on Wednesday, August 17th. Robert W. Baird upped their price objective on shares of Intel Corp. from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 19th. Brean Capital restated a “buy” rating and issued a $40.00 price objective (up from $38.00) on shares of Intel Corp. in a research report on Thursday, September 22nd. Zacks Investment Research upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Monday, September 26th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $35.00 price objective on shares of Intel Corp. in a research report on Wednesday, August 17th. Three investment 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. Intel Corp. presently has an average rating of “Buy” and an average price target of $40.02.
Intel Corp. (NASDAQ:INTC) opened at 37.75 on Wednesday. The firm has a market cap of $178.60 billion, a P/E ratio of 18.31 and a beta of 1.09. The stock has a 50 day moving average of $36.98 and a 200-day moving average of $33.74. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.36.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The firm had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts predict that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders 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 dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is presently 50.24%.
In other news, Chairman Andy D. Bryant sold 445,095 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $34.69, for a total value of $15,440,345.55. Following the transaction, the chairman now directly owns 399,557 shares of the company’s stock, valued at $13,860,632.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $37.71, for a total value of $2,545,726.68. Following the completion of the transaction, the chief executive officer now directly owns 420,506 shares in the company, valued at $15,857,281.26. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Carlton Hofferkamp & Jenks Wealth Management LLC purchased a new position in shares of Intel Corp. during the third quarter worth $242,000. GW&K Investment Management LLC raised its position in shares of Intel Corp. by 6.5% in the third quarter. GW&K Investment Management LLC now owns 746,627 shares of the chip maker’s stock worth $28,185,000 after buying an additional 45,647 shares in the last quarter. Trust Co. of Virginia VA raised its position in shares of Intel Corp. by 2.2% in the third quarter. Trust Co. of Virginia VA now owns 216,616 shares of the chip maker’s stock worth $8,177,000 after buying an additional 4,726 shares in the last quarter. Smith Chas P & Associates PA Cpas purchased a new position in shares of Intel Corp. during the third quarter worth $243,000. Finally, FNY Managed Accounts LLC raised its position in shares of Intel Corp. by 589.9% in the third quarter. FNY Managed Accounts LLC now owns 68,990 shares of the chip maker’s stock worth $2,604,000 after buying an additional 58,990 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.
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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