Wells Fargo & Company reaffirmed their outperform rating on shares of Intel Corporation (NASDAQ:INTC) in a report released on Friday, The Fly reports. They currently have a $50.00 price objective on the chip maker’s stock, up from their previous price objective of $45.00.
A number of other research analysts have also recently issued reports on the company. Bank of America Corporation raised Intel Corporation from a neutral rating to a buy rating and set a $49.00 price objective on the stock in a research note on Friday. Needham & Company LLC reaffirmed a buy rating and set a $43.00 price objective on shares of Intel Corporation in a research note on Friday. Stifel Nicolaus raised their price objective on Intel Corporation from $41.00 to $46.00 and gave the company a buy rating in a research note on Friday, October 20th. Goldman Sachs Group, Inc. (The) reaffirmed a hold rating on shares of Intel Corporation in a research note on Wednesday, October 18th. Finally, Vetr raised Intel Corporation from a buy rating to a strong-buy rating and set a $49.90 price objective on the stock in a research note on Tuesday, October 17th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $42.80.
Shares of Intel Corporation (NASDAQ:INTC) traded up 2.55% during midday trading on Friday, reaching $45.50. The company had a trading volume of 12,132,179 shares. The company has a 50 day moving average of $38.97 and a 200 day moving average of $36.36. The company has a market capitalization of $213.80 billion, a PE ratio of 17.37 and a beta of 1.07. Intel Corporation has a one year low of $33.23 and a one year high of $45.58.
Intel Corporation (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.21. Intel Corporation had a return on equity of 22.65% and a net margin of 22.31%. The business had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $15.73 billion. During the same quarter last year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts predict that Intel Corporation will post $3.23 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a $0.2725 dividend. The ex-dividend date is Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.46%. Intel Corporation’s dividend payout ratio is currently 38.11%.
In other Intel Corporation news, EVP Diane M. Bryant sold 2,119 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $41.06, for a total value of $87,006.14. Following the completion of the transaction, the executive vice president now owns 114,091 shares of the company’s stock, valued at $4,684,576.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,042 shares of company stock valued at $2,602,348. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Cidel Asset Management Inc. purchased a new position in shares of Intel Corporation during the third quarter worth $207,000. Barrington Strategic Wealth Management Group LLC raised its holdings in shares of Intel Corporation by 12.9% during the third quarter. Barrington Strategic Wealth Management Group LLC now owns 25,045 shares of the chip maker’s stock worth $954,000 after purchasing an additional 2,870 shares during the last quarter. Wilsey Asset Management Inc. raised its holdings in shares of Intel Corporation by 13.3% during the third quarter. Wilsey Asset Management Inc. now owns 247,864 shares of the chip maker’s stock worth $9,609,000 after purchasing an additional 29,010 shares during the last quarter. Berkshire Asset Management LLC PA raised its holdings in shares of Intel Corporation by 0.6% during the third quarter. Berkshire Asset Management LLC PA now owns 406,802 shares of the chip maker’s stock worth $15,491,000 after purchasing an additional 2,462 shares during the last quarter. Finally, Warren Averett Asset Management LLC raised its holdings in shares of Intel Corporation by 5.1% during the third quarter. Warren Averett Asset Management LLC now owns 23,808 shares of the chip maker’s stock worth $907,000 after purchasing an additional 1,152 shares during the last quarter. 67.07% of the stock is owned by hedge funds and other institutional investors.
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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