Intel Corporation (INTC) Target Price Boosted to $43.00

Intel Corporation (INTC) Target Price Boosted to $43.00

Intel Corporation (NASDAQ:INTC) had its price objective upped by Needham & Company LLC from $42.00 to $43.00 in a report released on Friday morning. Needham & Company LLC currently has a buy rating on the chip maker’s stock.

“Intel reported strong 4Q16 results that exceeded the high end of guidance and expectations as strength in gaming and high-end systems drove a record Core mix in its CCG segment. Memory and IOTG also contributed to the upside. Guidance for 1Q17 and 2017 was better than expected as well despite a softening outlook for CCG and continued headwinds in the Enterprise segment of DCG. Setting a more reasonable target, management expects DCG revenue to increase by a HSD in 2017, but believes there are opportunities for future DD growth. Though we continue to be disappointed in the Enterprise segment, we note all other DCG segments are growing at or above expectations and now account for the majority of DCG revenue.”,” Needham & Company LLC’s analyst wrote.

Several other analysts also recently weighed in on INTC. KeyCorp lifted their target price on Intel Corporation from $42.00 to $44.00 and gave the company an overweight rating in a research note on Monday, October 3rd. BlueFin Research reissued a buy rating on shares of Intel Corporation in a research note on Monday, October 3rd. Pacific Crest reissued a buy rating and issued a $44.00 price objective on shares of Intel Corporation in a research note on Thursday, October 6th. Vetr raised Intel Corporation from a buy rating to a strong-buy rating and set a $41.98 price objective on the stock in a research note on Tuesday, October 11th. Finally, Sanford C. Bernstein set a $35.00 price objective on Intel Corporation and gave the stock a hold rating in a research note on Friday, October 14th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty have issued a buy rating to the stock. Intel Corporation currently has a consensus rating of Buy and a consensus price target of $40.40.

Intel Corporation (NASDAQ:INTC) traded down 0.2447% during mid-day trading on Friday, hitting $36.7299. The company had a trading volume of 1,650,900 shares. Intel Corporation has a one year low of $27.68 and a one year high of $38.45. The company’s 50 day moving average price is $36.86 and its 200-day moving average price is $35.92. The company has a market cap of $173.92 billion, a PE ratio of 17.3254 and a beta of 1.06.

Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, January 26th. The chip maker reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. The firm had revenue of $16.40 billion for the quarter, compared to the consensus estimate of $15.75 billion. Intel Corporation had a return on equity of 20.95% and a net margin of 17.37%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. Equities research analysts anticipate that Intel Corporation will post $2.80 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 7th will be given a $0.26 dividend. The ex-dividend date is Friday, February 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.82%. Intel Corporation’s payout ratio is 49.29%.

In other news, EVP Stacy J. Smith sold 29,497 shares of Intel Corporation stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $36.76, for a total value of $1,084,309.72. Following the completion of the sale, the executive vice president now directly owns 244,734 shares in the company, valued at $8,996,421.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brian M. Krzanich sold 79,051 shares of Intel Corporation stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $36.49, for a total transaction of $2,884,570.99. Following the completion of the sale, the chief executive officer now owns 394,406 shares of the company’s stock, valued at $14,391,874.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,104 shares of company stock valued at $4,669,249. 0.09% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in Intel Corporation by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,796,286 shares of the chip maker’s stock worth $58,917,000 after buying an additional 89,568 shares during the last quarter. McQueen Ball & Associates Inc. boosted its position in shares of Intel Corporation by 0.8% in the second quarter. McQueen Ball & Associates Inc. now owns 73,391 shares of the chip maker’s stock worth $2,407,000 after buying an additional 615 shares during the period. Lynch & Associates IN boosted its position in shares of Intel Corporation by 8.2% in the second quarter. Lynch & Associates IN now owns 163,372 shares of the chip maker’s stock worth $5,359,000 after buying an additional 12,330 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of Intel Corporation by 0.4% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 25,885 shares of the chip maker’s stock worth $849,000 after buying an additional 100 shares during the period. Finally, Rockefeller Financial Services Inc. boosted its position in shares of Intel Corporation by 16.9% in the second quarter. Rockefeller Financial Services Inc. now owns 184,845 shares of the chip maker’s stock worth $6,063,000 after buying an additional 26,716 shares during the period. Institutional investors own 66.20% of the company’s stock.

About Intel Corporation

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.

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