Intel Corporation (NASDAQ:INTC) Coverage Initiated at Hilliard Lyons

Hilliard Lyons assumed coverage on shares of Intel Corporation (NASDAQ:INTC) in a research note released on Wednesday, July 12th. The brokerage issued a buy rating and a $41.00 price objective on the chip maker’s stock.

A number of other equities analysts have also weighed in on INTC. Needham & Company LLC restated a buy rating and set a $43.00 price target on shares of Intel Corporation in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Intel Corporation from a hold rating to a buy rating and set a $40.00 target price on the stock in a research note on Tuesday, May 16th. Bank of America Corporation downgraded shares of Intel Corporation from a buy rating to a neutral rating and reduced their price target for the company from $42.00 to $38.00 in a research note on Wednesday, June 21st. BidaskClub downgraded shares of Intel Corporation from a hold rating to a sell rating in a research note on Tuesday, June 27th. Finally, Wells Fargo & Company reissued an outperform rating and issued a $45.00 price target on shares of Intel Corporation in a research note on Thursday, April 6th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $40.55.

Shares of Intel Corporation (NASDAQ INTC) opened at 35.87 on Wednesday. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45. The company has a market cap of $168.55 billion, a price-to-earnings ratio of 13.69 and a beta of 1.01. The company’s 50-day moving average price is $34.84 and its 200-day moving average price is $35.72.

Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter last year, the company posted $0.59 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts anticipate 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, September 1st. Stockholders of record on Monday, August 7th will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, August 3rd. Intel Corporation’s payout ratio is currently 41.76%.

In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 13,996 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $35.47, for a total transaction of $496,438.12. Following the sale, the insider now owns 1,536 shares in the company, valued at $54,481.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $55,910.40. The disclosure for this sale can be found here. Insiders sold 91,921 shares of company stock valued at $3,130,162 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in INTC. Watermark Asset Management Inc. acquired a new stake in Intel Corporation during the first quarter valued at about $113,000. Acrospire Investment Management LLC boosted its stake in Intel Corporation by 111.8% in the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after buying an additional 1,900 shares during the last quarter. Orrstown Financial Services Inc. boosted its stake in Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock valued at $134,000 after buying an additional 1,830 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after buying an additional 1,400 shares during the last quarter. Finally, Winfield Associates Inc. boosted its stake in Intel Corporation by 6.0% in the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after buying an additional 265 shares during the last quarter. Institutional investors and hedge funds own 67.50% of the company’s stock.

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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