Argus Reiterates “Buy” Rating for Intel Corp. (INTC)
Intel Corp. (NASDAQ:INTC)‘s stock had its “buy” rating reiterated by research analysts at Argus in a research report issued to clients and investors on Wednesday.
A number of other brokerages have also issued reports on INTC. Pacific Crest reiterated a “buy” rating and issued a $44.00 price target on shares of Intel Corp. in a report on Thursday, October 6th. KeyCorp upped their target price on Intel Corp. from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 3rd. BlueFin Research restated a “buy” rating on shares of Intel Corp. in a report on Monday, October 3rd. B. Riley restated a “buy” rating and set a $46.00 target price (up previously from $45.00) on shares of Intel Corp. in a report on Wednesday, October 19th. Finally, Goldman Sachs Group Inc. set a $36.00 target price on Intel Corp. and gave the stock a “neutral” rating in a report on Wednesday, October 19th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-two have given a buy rating to the company. Intel Corp. has an average rating of “Buy” and a consensus price target of $39.70.
Shares of Intel Corp. (NASDAQ:INTC) opened at 35.48 on Wednesday. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36. The firm has a 50 day moving average price of $35.67 and a 200-day moving average price of $34.37. The company has a market cap of $168.14 billion, a price-to-earnings ratio of 16.65 and a beta of 1.07.
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, beating analysts’ consensus estimates of $0.73 by $0.07. The firm earned $15.78 billion during the quarter, compared to analyst estimates of $15.58 billion. Intel Corp. had a return on equity of 21.05% and a net margin of 17.90%. Intel Corp.’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, equities analysts expect that Intel Corp. will post $2.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s payout ratio is 49.06%.
In other Intel Corp. news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $34.92, for a total transaction of $488,775.24. Following the completion of the transaction, the executive vice president now directly owns 817 shares of the company’s stock, valued at approximately $28,529.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Gregory R. Pearson sold 250,192 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was 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 of the company’s stock, valued at $3,388,149. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in INTC. James Investment Research Inc. raised 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 valued at $21,708,000 after buying an additional 75,124 shares in the last quarter. Park National Corp OH increased its position in 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 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. CIBC World Markets Inc. increased its position in 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. Finally, Shelton Capital Management increased its position in Intel Corp. by 4.6% in the second quarter. Shelton Capital Management now owns 423,711 shares of the chip maker’s stock worth $13,898,000 after buying an additional 18,709 shares during the last quarter. 64.58% 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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