Intel Corporation (INTC) Receives Sell Rating from Royal Bank Of Canada
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Intel Corporation from a hold rating to a sell rating in a report on Monday, July 17th. Needham & Company LLC reiterated a buy rating and issued a $43.00 price target on shares of Intel Corporation in a report on Wednesday, July 12th. Bank of America Corporation downgraded shares of Intel Corporation from a buy rating to a neutral rating and cut their price target for the stock from $42.00 to $38.00 in a report on Wednesday, June 21st. BidaskClub downgraded shares of Intel Corporation from a hold rating to a sell rating in a report on Tuesday, June 27th. Finally, Canaccord Genuity reiterated a buy rating and issued a $38.00 price target on shares of Intel Corporation in a report on Wednesday, July 12th. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $40.58.
Shares of Intel Corporation (NASDAQ INTC) opened at 34.67 on Thursday. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The firm’s 50 day moving average is $35.18 and its 200-day moving average is $35.58. The company has a market cap of $162.91 billion, a PE ratio of 13.23 and a beta of 1.01.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the company earned $0.59 EPS. Intel Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Intel Corporation will post $3.01 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, August 3rd. Intel Corporation’s dividend payout ratio is currently 41.76%.
In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the transaction, the insider now owns 1,536 shares of the company’s stock, valued at $55,910.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $35.47, for a total value of $496,438.12. Following the completion of the transaction, the insider now directly owns 1,536 shares in the company, valued at approximately $54,481.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,921 shares of company stock valued at $3,130,162. 0.08% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its position in Intel Corporation by 4,951.1% in the second quarter. Janus Henderson Group PLC now owns 20,455,051 shares of the chip maker’s stock worth $690,156,000 after buying an additional 20,050,088 shares during the last quarter. Capital Research Global Investors raised its position in Intel Corporation by 9.1% in the second quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock worth $4,338,344,000 after buying an additional 10,744,753 shares during the last quarter. Capital World Investors raised its position in Intel Corporation by 5.5% in the second quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after buying an additional 10,257,260 shares during the last quarter. Vanguard Group Inc. raised its position in Intel Corporation by 2.5% in the second quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after buying an additional 8,087,302 shares during the last quarter. Finally, Glenview Capital Management LLC bought a new position in Intel Corporation during the first quarter worth about $177,881,000. 67.07% of the stock is currently owned by institutional investors and hedge funds.
About Intel Corporation
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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