Intel Corp.’s (INTC) Buy Rating Reaffirmed at Instinet
Instinet reissued their buy rating on shares of Intel Corp. (NASDAQ:INTC) in a research note released on Tuesday morning. The brokerage currently has a $35.50 price objective on the chip maker’s stock.
INTC has been the topic of a number of other reports. Oppenheimer Holdings Inc. reissued a market perform rating on shares of Intel Corp. in a research note on Friday, August 19th. Zacks Investment Research downgraded Intel Corp. from a buy rating to a hold rating in a research note on Wednesday, November 16th. BNP Paribas set a $37.00 price objective on Intel Corp. and gave the company a neutral rating in a research note on Monday, September 19th. Vetr downgraded Intel Corp. from a strong-buy rating to a buy rating and set a $41.20 price objective on the stock. in a research note on Wednesday, October 12th. Finally, Cowen and Company raised their price objective on Intel Corp. from $36.00 to $38.00 and gave the company a market perform rating in a research note on Friday, September 16th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $39.61.
Shares of Intel Corp. (NASDAQ:INTC) opened at 35.31 on Tuesday. The firm has a market capitalization of $167.33 billion, a price-to-earnings ratio of 16.57 and a beta of 1.07. The company’s 50 day moving average price is $35.38 and its 200 day moving average price is $34.52. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.36.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.07. Intel Corp. had a return on equity of 21.05% and a net margin of 17.90%. The company earned $15.78 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same period last year, the business earned $0.64 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts forecast that Intel Corp. will post $2.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.95%. Intel Corp.’s dividend payout ratio (DPR) is presently 49.06%.
In related news, VP Gregory R. Pearson sold 250,192 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total value of $9,132,008.00. Following the completion of the transaction, the vice president now directly owns 92,826 shares in the company, valued at $3,388,149. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the company’s stock in a transaction on Monday, October 31st. The stock was 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 owns 817 shares of the company’s stock, valued at $28,529.64. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Edmond DE Rothschild Monaco acquired a new stake in Intel Corp. during the third quarter valued at about $113,000. Global X Management Co. LLC raised its stake in Intel Corp. by 52.0% in the second quarter. Global X Management Co. LLC now owns 3,037 shares of the chip maker’s stock valued at $100,000 after buying an additional 1,039 shares during the last quarter. Jacobus Wealth Management Inc. acquired a new stake in Intel Corp. during the third quarter valued at about $119,000. Penserra Capital Management LLC raised its stake in Intel Corp. by 36.3% in the second quarter. Penserra Capital Management LLC now owns 3,178 shares of the chip maker’s stock valued at $104,000 after buying an additional 847 shares during the last quarter. Finally, Roble Belko & Company Inc raised its stake in Intel Corp. by 6.4% in the third quarter. Roble Belko & Company Inc now owns 3,346 shares of the chip maker’s stock valued at $126,000 after buying an additional 200 shares during the last quarter. Institutional investors own 64.89% 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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