Wells Fargo & Co restated their outperform rating on shares of Intel Co. (NASDAQ:INTC) in a report published on Wednesday. The brokerage currently has a $45.00 price objective on the chip maker’s stock.
Several other brokerages have also commented on INTC. Sanford C. Bernstein lowered Intel from a market perform rating to an underperform rating and decreased their price target for the company from $36.00 to $30.00 in a research note on Tuesday, February 28th. BNP Paribas set a $39.00 price target on Intel and gave the company a hold rating in a research note on Saturday, January 28th. Vetr lowered Intel from a strong-buy rating to a buy rating and set a $38.98 price target on the stock. in a research note on Thursday, February 9th. Susquehanna Bancshares Inc reaffirmed a positive rating on shares of Intel in a research note on Monday, January 30th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $43.00 price target on shares of Intel in a research note on Thursday, January 19th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Intel currently has a consensus rating of Hold and an average price target of $39.99.
Shares of Intel (NASDAQ:INTC) opened at 35.43 on Wednesday. The company’s 50-day moving average price is $36.08 and its 200-day moving average price is $36.14. Intel has a 12 month low of $29.50 and a 12 month high of $38.45. The firm has a market cap of $167.51 billion, a P/E ratio of 16.71 and a beta of 1.03.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 26th. The chip maker reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The business had revenue of $16.40 billion for the quarter, compared to analyst estimates of $15.75 billion. Intel had a return on equity of 20.95% and a net margin of 17.37%. Intel’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, analysts predict that Intel will post $2.80 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 7th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.94%. Intel’s dividend payout ratio (DPR) is currently 49.29%.
In other Intel news, EVP Diane M. Bryant sold 55,821 shares of Intel stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $36.34, for a total transaction of $2,028,535.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 72,172 shares of Intel stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $35.21, for a total value of $2,541,176.12. Following the transaction, the chief executive officer now owns 549,091 shares of the company’s stock, valued at approximately $19,333,494.11. The disclosure for this sale can be found here. Insiders have sold a total of 273,023 shares of company stock valued at $9,898,612 in the last quarter. Company insiders own 0.09% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in INTC. Access Financial Services Inc. bought a new position in Intel during the fourth quarter worth about $800,000. Vident Investment Advisory LLC increased its position in Intel by 1.1% in the fourth quarter. Vident Investment Advisory LLC now owns 70,927 shares of the chip maker’s stock worth $2,573,000 after buying an additional 777 shares during the period. Origin Asset Management LLP bought a new position in Intel during the fourth quarter worth about $22,306,000. Patriot Financial Group Insurance Agency LLC bought a new position in Intel during the fourth quarter worth about $446,000. Finally, Norges Bank bought a new position in Intel during the fourth quarter worth about $1,684,790,000. Institutional investors and hedge funds own 65.90% of the company’s stock.
Intel Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.