Intel’s (INTC) “Hold” Rating Reaffirmed at Canaccord Genuity

Canaccord Genuity restated their hold rating on shares of Intel Co. (NASDAQ:INTC) in a report issued on Thursday morning. The brokerage currently has a $38.00 target price on the chip maker’s stock.

Other equities analysts have also issued reports about the company. B. Riley reiterated a buy rating and issued a $44.00 target price on shares of Intel in a research note on Friday, January 27th. Sanford C. Bernstein set a $36.00 price target on Intel and gave the stock a hold rating in a research note on Saturday, January 28th. BNP Paribas set a $39.00 price target on Intel and gave the stock a hold rating in a research note on Saturday, January 28th. Needham & Company LLC restated a buy rating on shares of Intel in a research note on Friday, February 10th. Finally, Pacific Crest restated an overweight rating and set a $43.00 price target on shares of Intel in a research note on Friday, February 10th. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $40.22.

Shares of Intel (NASDAQ:INTC) traded up 0.4397% during midday trading on Thursday, reaching $36.3391. 11,971,383 shares of the company’s stock traded hands. The company has a market capitalization of $171.81 billion, a price-to-earnings ratio of 17.1411 and a beta of 1.03. The company has a 50-day moving average of $35.64 and a 200-day moving average of $35.99. Intel has a one year low of $29.50 and a one year high of $38.45.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 26th. The chip maker reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The company had revenue of $16.40 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. Equities research analysts anticipate that Intel will post $2.79 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Sunday, May 7th will be paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from Intel’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, May 3rd. Intel’s dividend payout ratio is currently 49.29%.

In related news, EVP Diane M. Bryant sold 2,766 shares of the firm’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $37.59, for a total value of $103,973.94. Following the completion of the sale, the executive vice president now directly owns 106,566 shares in the company, valued at approximately $4,005,815.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 72,172 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $35.21, for a total transaction of $2,541,176.12. Following the completion of the sale, the chief executive officer now owns 549,091 shares of the company’s stock, valued at $19,333,494.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,475 shares of company stock valued at $5,929,732. Company insiders own 0.09% of the company’s stock.

A number of large investors have recently modified their holdings of INTC. Norges Bank purchased a new stake in shares of Intel during the fourth quarter valued at about $1,684,790,000. Russell Investments Group Ltd. purchased a new stake in shares of Intel during the fourth quarter valued at about $330,056,000. Asset Management One Co. Ltd. increased its stake in shares of Intel by 705.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 8,295,798 shares of the chip maker’s stock valued at $301,186,000 after buying an additional 7,265,442 shares during the period. DnB Asset Management AS increased its stake in shares of Intel by 654.3% in the first quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock valued at $195,986,000 after buying an additional 4,713,168 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Intel by 1,132.9% in the third quarter. Acadian Asset Management LLC now owns 3,735,219 shares of the chip maker’s stock valued at $141,000,000 after buying an additional 3,432,246 shares during the period. Institutional investors and hedge funds own 65.90% of the company’s stock.

About Intel

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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