Intel (NASDAQ:INTC)‘s stock had its “hold” rating reaffirmed by equities research analysts at KeyCorp in a report released on Friday, TipRanks reports. KeyCorp also issued estimates for Intel’s FY2019 earnings at $4.60 EPS, Q3 2020 earnings at $1.22 EPS and Q4 2020 earnings at $1.26 EPS.
Other research analysts have also issued research reports about the stock. Benchmark initiated coverage on shares of Intel in a research note on Tuesday, July 23rd. They set a “hold” rating on the stock. Jefferies Financial Group set a $40.00 price objective on shares of Intel and gave the company a “sell” rating in a research note on Friday, July 26th. Cowen raised their price objective on shares of Intel from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday. Wells Fargo & Co raised their price objective on shares of Intel from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Nomura set a $65.00 price objective on shares of Intel and gave the company a “buy” rating in a research note on Friday, August 23rd. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Intel has a consensus rating of “Hold” and a consensus target price of $55.76.
Shares of INTC traded up $0.30 during mid-day trading on Friday, reaching $56.76. 2,023,911 shares of the company’s stock traded hands, compared to its average volume of 16,646,686. The business’s 50-day moving average price is $51.42 and its 200-day moving average price is $49.42. The stock has a market capitalization of $231.38 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48. Intel has a 12 month low of $42.86 and a 12 month high of $59.59.
Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.18. Intel had a net margin of 27.46% and a return on equity of 28.26%. The business had revenue of $19.19 billion for the quarter, compared to analyst estimates of $18.07 billion. During the same quarter last year, the business earned $1.40 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts anticipate that Intel will post 4.58 EPS for the current year.
Intel declared that its board has authorized a stock repurchase program on Thursday, October 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the chip maker to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In other news, CEO Robert Holmes Swan acquired 10,918 shares of the stock in a transaction on Wednesday, August 28th. The shares were purchased at an average cost of $45.70 per share, for a total transaction of $498,952.60. Following the transaction, the chief executive officer now owns 168,955 shares in the company, valued at approximately $7,721,243.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Navin Shenoy sold 601 shares of Intel stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $51.76, for a total transaction of $31,107.76. Following the transaction, the executive vice president now owns 53,063 shares in the company, valued at $2,746,540.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,541 shares of company stock worth $1,610,806. Corporate insiders own 0.02% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Ogorek Anthony Joseph NY ADV grew its position in Intel by 500.0% during the 2nd quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after purchasing an additional 500 shares in the last quarter. Intercontinental Wealth Advisors LLC grew its position in Intel by 83.0% during the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock worth $51,000 after purchasing an additional 450 shares in the last quarter. Lenox Wealth Advisors LLC grew its position in Intel by 117.4% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock worth $52,000 after purchasing an additional 540 shares in the last quarter. Next Capital Management LLC purchased a new position in Intel during the 2nd quarter worth approximately $48,000. Finally, Contravisory Investment Management Inc. boosted its stake in shares of Intel by 234.1% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,146 shares of the chip maker’s stock valued at $55,000 after buying an additional 803 shares during the period. Hedge funds and other institutional investors own 65.94% of the company’s stock.
Intel Company Profile
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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