Intel Corp.’s (INTC) “Sector Perform” Rating Reiterated at RBC Capital Markets
Intel Corp. (NASDAQ:INTC)‘s stock had its “sector perform” rating reissued by stock analysts at RBC Capital Markets in a research note issued on Wednesday. They currently have a $37.00 target price on the chip maker’s stock. RBC Capital Markets’ target price points to a potential downside of 1.99% from the company’s current price.
INTC has been the topic of a number of other reports. Zacks Investment Research raised Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Monday, September 26th. Vetr lowered Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 target price on the stock. in a research report on Monday, August 29th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Intel Corp. in a research report on Sunday, September 4th. BlueFin Research reissued a “buy” rating on shares of Intel Corp. in a research report on Monday, October 3rd. Finally, Morgan Stanley reissued an “underweight” rating and set a $31.00 price target on shares of Intel Corp. in a research report on Wednesday, September 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $39.91.
Shares of Intel Corp. (NASDAQ:INTC) traded down 5.70% during mid-day trading on Wednesday, reaching $35.60. 26,736,032 shares of the company traded hands. The firm’s 50 day moving average price is $36.98 and its 200-day moving average price is $33.74. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36. The company has a market capitalization of $168.42 billion, a P/E ratio of 17.26 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.08. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the prior year, the company posted $0.64 EPS. Intel Corp.’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts predict 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. Investors of record on Monday, November 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.75%. Intel Corp.’s payout ratio is 50.24%.
In other Intel Corp. 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 transaction of $15,440,345.55. Following the completion of the sale, the chairman now directly owns 399,557 shares in the company, valued at approximately $13,860,632.33. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the sale, the vice president now owns 84,505 shares of the company’s stock, valued at $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of INTC. Emerald Acquisition Ltd. acquired a new stake in shares of Intel Corp. during the second quarter worth $295,226,000. Dimensional Fund Advisors LP increased its stake 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 valued at $1,498,217,000 after buying an additional 8,662,708 shares in the last quarter. Capital World Investors increased its stake 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 valued at $5,479,164,000 after buying an additional 8,095,076 shares in the last quarter. Institutional Capital LLC increased its stake 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 valued at $329,388,000 after buying an additional 7,969,512 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake 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 valued at $9,824,733,000 after buying an additional 5,697,051 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.
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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