Intel Corp. (INTC) Upgraded by Vetr Inc. to “Strong-Buy”
Vetr upgraded shares of Intel Corp. (NASDAQ:INTC) from a buy rating to a strong-buy rating in a research report released on Wednesday morning. Vetr currently has $39.45 price objective on the chip maker’s stock.
INTC has been the topic of several 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 report on Monday, September 26th. Wells Fargo & Co. reissued an outperform rating and set a $45.00 price objective on shares of Intel Corp. in a research note on Monday, October 17th. BlueFin Research reissued a buy rating on shares of Intel Corp. in a research note on Monday, October 3rd. Morgan Stanley reissued an underweight rating and set a $31.00 price objective on shares of Intel Corp. in a research note on Wednesday, September 14th. Finally, Sanford C. Bernstein set a $35.00 price objective on Intel Corp. and gave the stock a hold rating in a research note on Friday, October 14th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. Intel Corp. currently has an average rating of Buy and a consensus price target of $39.61.
Shares of Intel Corp. (NASDAQ:INTC) opened at 34.70 on Wednesday. The firm has a 50-day moving average price of $35.38 and a 200 day moving average price of $34.52. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36. The stock has a market cap of $164.44 billion, a PE ratio of 16.28 and a beta of 1.07.
Intel Corp. (NASDAQ:INTC) last issued its earnings results on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts expect that Intel Corp. will post $2.67 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is presently 49.06%.
In other Intel Corp. news, Chairman Andy D. Bryant sold 24,383 shares of the company’s stock in a transaction dated Thursday, October 20th. The shares were sold at an average price of $35.35, for a total value of $861,939.05. Following the sale, the chairman now owns 399,940 shares of the company’s stock, valued at $14,137,879. The sale was disclosed in a legal 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 company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 420,506 shares in the company, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. 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 during the period. Capital World Investors increased its stake in shares of Intel Corp. by 9.7% in the third quarter. Capital World Investors now owns 183,278,777 shares of the chip maker’s stock valued at $6,918,774,000 after buying an additional 16,231,087 shares during the period. Capital Research Global Investors increased its stake in shares of Intel Corp. by 4.4% in the third quarter. Capital Research Global Investors now owns 107,606,956 shares of the chip maker’s stock valued at $4,062,163,000 after buying an additional 4,502,584 shares during the period. 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 during the period. Finally, Primecap Management Co. CA increased its position in shares of Intel Corp. by 1.0% in the second quarter. Primecap Management Co. CA now owns 32,038,210 shares of the chip maker’s stock valued at $1,050,853,000 after buying an additional 324,225 shares during the last quarter. 64.89% of the stock is currently owned by institutional investors.
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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