Intel Corporation (INTC) Upgraded to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of Intel Corporation (NASDAQ:INTC) from a buy rating to a strong-buy rating in a report published on Tuesday morning. The firm currently has $49.90 price objective on the chip maker’s stock.
INTC has been the topic of a number of other research reports. Jefferies Group LLC reiterated an underperform rating and set a $30.00 price objective (up previously from $29.00) on shares of Intel Corporation in a research note on Friday, July 28th. They noted that the move was a valuation call. Sanford C. Bernstein set a $30.00 price target on shares of Intel Corporation and gave the stock a sell rating in a research report on Tuesday, August 15th. Royal Bank Of Canada restated a sector perform rating and issued a $40.00 price target (up previously from $37.00) on shares of Intel Corporation in a research report on Friday, October 6th. Hilliard Lyons assumed coverage on shares of Intel Corporation in a research report on Wednesday, July 12th. They issued a buy rating and a $41.00 price target on the stock. Finally, Northland Securities set a $40.00 price target on shares of Intel Corporation and gave the stock a hold rating in a research report on Friday, July 28th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $40.91.
Shares of Intel Corporation (INTC) opened at 39.79 on Tuesday. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $39.95. The firm has a market cap of $186.97 billion, a PE ratio of 15.19 and a beta of 1.07. The company has a 50 day moving average price of $37.23 and a 200-day moving average price of $35.94.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, beating the Zacks’ 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 business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the business earned $0.59 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts expect that Intel Corporation will post $3.01 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.2725 per share. The ex-dividend date is Monday, November 6th. This represents a $1.09 annualized dividend and a dividend yield of 2.74%. Intel Corporation’s payout ratio is presently 41.76%.
In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.40, for a total transaction of $51,833.60. Following the completion of the sale, the insider now directly owns 1,536 shares in the company, valued at approximately $55,910.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Diane M. Bryant sold 1,639 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $34.65, for a total value of $56,791.35. Following the sale, the executive vice president now owns 114,542 shares of the company’s stock, valued at $3,968,880.30. The disclosure for this sale can be found here. Insiders have sold 81,608 shares of company stock valued at $3,095,110 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.
Several hedge funds have recently bought and sold shares of INTC. Janus Henderson Group PLC lifted its position in shares of Intel Corporation by 4,951.1% during the 2nd quarter. Janus Henderson Group PLC now owns 20,455,051 shares of the chip maker’s stock valued at $690,156,000 after buying an additional 20,050,088 shares in the last quarter. Capital Research Global Investors lifted its holdings in Intel Corporation by 9.1% in the 2nd quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock worth $4,338,344,000 after purchasing an additional 10,744,753 shares in the last quarter. Capital World Investors lifted its holdings in Intel Corporation by 5.5% in the 2nd quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after purchasing an additional 10,257,260 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Intel Corporation by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after purchasing an additional 8,087,302 shares in the last quarter. Finally, Glenview Capital Management LLC purchased a new position in Intel Corporation in the 1st quarter worth approximately $177,881,000. 67.02% of the stock is currently owned by hedge funds and other 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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