Argus Reaffirms Buy Rating for Intel Corporation (INTC)
Argus reiterated their buy rating on shares of Intel Corporation (NASDAQ:INTC) in a research report sent to investors on Wednesday morning. They currently have a $45.00 target price on the chip maker’s stock.
Several other equities analysts also recently weighed in on INTC. Sanford C. Bernstein reaffirmed a sell rating on shares of Intel Corporation in a research report on Tuesday, April 25th. B. Riley reaffirmed a buy rating and issued a $44.00 target price on shares of Intel Corporation in a research report on Friday, April 28th. Jefferies Group LLC downgraded Intel Corporation to a hold rating and lifted their target price for the company from $36.00 to $38.00 in a research report on Friday, April 28th. Cowen and Company reissued a market perform rating and set a $39.00 price objective on shares of Intel Corporation in a research report on Friday, April 28th. Finally, Mizuho reissued a buy rating on shares of Intel Corporation in a research report on Friday, April 28th. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $40.58.
Shares of Intel Corporation (NASDAQ:INTC) traded down 0.12% during midday trading on Wednesday, hitting $34.67. 14,726,829 shares of the stock were exchanged. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45. The firm has a 50 day moving average of $35.18 and a 200-day moving average of $35.58. The stock has a market cap of $162.91 billion, a P/E ratio of 13.23 and a beta of 1.01.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. Intel Corporation’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Equities research analysts anticipate that Intel Corporation will post $3.01 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.14%. Intel Corporation’s payout ratio is 41.76%.
In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.40, for a total value of $51,833.60. Following the sale, the insider now owns 1,536 shares of the company’s stock, valued at $55,910.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the completion of the sale, the chief executive officer now directly owns 534,746 shares in the company, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. Insiders sold 91,921 shares of company stock worth $3,130,162 over the last three months. 0.09% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Private Asset Management Inc. raised its position in Intel Corporation by 3.2% in the first quarter. Private Asset Management Inc. now owns 458,530 shares of the chip maker’s stock valued at $16,539,000 after buying an additional 14,244 shares during the last quarter. Liberty Capital Management Inc. raised its position in shares of Intel Corporation by 8.4% in the first quarter. Liberty Capital Management Inc. now owns 27,108 shares of the chip maker’s stock valued at $978,000 after buying an additional 2,101 shares in the last quarter. Bath Savings Trust Co raised its position in shares of Intel Corporation by 0.9% in the first quarter. Bath Savings Trust Co now owns 19,133 shares of the chip maker’s stock valued at $690,000 after buying an additional 162 shares in the last quarter. Lau Associates LLC raised its position in shares of Intel Corporation by 0.9% in the first quarter. Lau Associates LLC now owns 143,111 shares of the chip maker’s stock valued at $5,162,000 after buying an additional 1,340 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its position in shares of Intel Corporation by 23.6% in the first quarter. Toth Financial Advisory Corp now owns 19,190 shares of the chip maker’s stock valued at $692,000 after buying an additional 3,661 shares in the last quarter. 67.31% of the stock is currently owned by institutional investors.
Intel Corporation Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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