Zacks Investment Research upgraded shares of Intel Corporation (NASDAQ:INTC) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. Zacks Investment Research currently has $41.00 price objective on the chip maker’s stock.
According to Zacks, “Intel’s growing focus on the data-centric part of the business is positive. The launch of Xeon Scalable is anticipated to improve its footprint in the data center as well as AI space, going forward. The company recently unveiled Myriad X, which will boost footprint in the IoT space. Moreover, the recent Core 8 launch will boost PC market share amid intensifying competition from AMD. We note that the top-PC makers like HP, Lenovo, and Asus are set to launch PCs based on Qualcomm’s ARM-based Snapdragon processor, which is a headwind for the company. Further, anticipated improvement in cost structure and lower spending, primarily due to improving operational efficiency will aid in expansion of margins going forward. Additionally, aggressive share buyback will boost the bottom line in 2017. However, we note that Intel has underperformed the industry on a year-to-date basis. Moreover, declining PC-shipments is a concern.”
Several other equities analysts also recently issued reports on the company. Canaccord Genuity reissued a hold rating and issued a $38.00 target price on shares of Intel Corporation in a research report on Monday. Robert W. Baird reissued an outperform rating and issued a $45.00 target price on shares of Intel Corporation in a research report on Tuesday, September 5th. ValuEngine downgraded Intel Corporation from a buy rating to a hold rating in a research report on Friday, September 1st. Royal Bank Of Canada reissued a sector perform rating on shares of Intel Corporation in a research report on Thursday, August 31st. Finally, Credit Suisse Group reissued an outperform rating on shares of Intel Corporation in a research report on Thursday, August 31st. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Intel Corporation currently has an average rating of Hold and an average price target of $40.60.
Intel Corporation (INTC) traded up 1.43% during mid-day trading on Thursday, hitting $37.00. The company’s stock had a trading volume of 33,358,126 shares. The company has a market cap of $173.86 billion, a P/E ratio of 14.12 and a beta of 1.02. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $38.45. The firm’s 50-day moving average is $35.59 and its 200-day moving average is $35.52.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. Analysts predict that Intel Corporation will post $3.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be given a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 2.95%. Intel Corporation’s payout ratio is currently 41.76%.
In other news, EVP Diane M. Bryant sold 2,119 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $34.68, for a total value of $73,486.92. Following the completion of the sale, the executive vice president now owns 108,471 shares of the company’s stock, valued at $3,761,774.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the completion of the sale, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. Insiders sold 91,921 shares of company stock valued at $3,130,162 in the last three months. Company insiders own 0.08% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Frontier Investment Mgmt Co. increased its position in shares of Intel Corporation by 0.7% in the second quarter. Frontier Investment Mgmt Co. now owns 559,963 shares of the chip maker’s stock worth $18,893,000 after acquiring an additional 3,845 shares in the last quarter. Intl Fcstone Inc. acquired a new stake in shares of Intel Corporation in the second quarter worth $410,000. M Holdings Securities Inc. increased its position in shares of Intel Corporation by 29.0% in the second quarter. M Holdings Securities Inc. now owns 20,188 shares of the chip maker’s stock worth $681,000 after acquiring an additional 4,542 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of Intel Corporation in the second quarter worth $4,400,000. Finally, Gs Investments Inc. acquired a new stake in shares of Intel Corporation in the second quarter worth $820,000. 67.09% of the stock is owned by institutional investors.
Intel Corporation Company Profile
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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