Intel Corp. (INTC) Upgraded to Buy by Charter Equity
Intel Corp. (NASDAQ:INTC) was upgraded by stock analysts at Charter Equity from a “market perform” rating to a “buy” rating in a note issued to investors on Wednesday.
Several other research analysts have also recently weighed in on the company. Morgan Stanley boosted their target price on Intel Corp. from $34.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday. Nomura set a $40.00 target price on Intel Corp. and gave the stock a “buy” rating in a report on Wednesday. Jefferies Group set a $46.00 target price on Intel Corp. and gave the stock a “buy” rating in a report on Wednesday. BNP Paribas set a $36.00 target price on Intel Corp. and gave the stock a “neutral” rating in a report on Wednesday. Finally, Citigroup Inc. lowered their target price on Intel Corp. from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $39.93.
Intel Corp. (NASDAQ:INTC) traded down 5.46% during mid-day trading on Wednesday, reaching $35.69. The company’s stock had a trading volume of 18,683,883 shares. The company has a market capitalization of $168.85 billion, a price-to-earnings ratio of 17.31 and a beta of 1.09. The stock has a 50-day moving average price of $36.98 and a 200-day moving average price of $33.74. Intel Corp. has a one year low of $27.68 and a one year high of $38.36.
Intel Corp. (NASDAQ:INTC) last issued its earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.08. The business had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. Equities research analysts forecast that Intel Corp. will post $2.58 EPS for the current year.
The firm 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. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. Intel Corp.’s payout ratio is currently 50.24%.
In other news, CEO Brian M. Krzanich sold 67,508 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 420,506 shares in the company, valued at $15,857,281.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory R. Pearson sold 250,192 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 92,826 shares in the company, valued at approximately $3,388,149. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. purchased a new stake in Intel Corp. during the second quarter worth about $295,226,000. Dimensional Fund Advisors LP increased its position in shares of 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 worth $1,498,217,000 after buying an additional 8,662,708 shares during the last quarter. Capital World Investors increased its position in shares of Intel Corp. by 5.1% in the second quarter. Capital World Investors now owns 167,047,690 shares of the chip maker’s stock worth $5,479,164,000 after buying an additional 8,095,076 shares during the last quarter. Institutional Capital LLC increased its position in shares of Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock worth $329,388,000 after buying an additional 7,969,512 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Intel Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 299,534,545 shares of the chip maker’s stock worth $9,824,733,000 after buying an additional 5,697,051 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.
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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