Intel (NASDAQ:INTC) had its price objective raised by SunTrust Banks from $62.00 to $70.00 in a research note released on Friday morning, The Fly reports. SunTrust Banks currently has a hold rating on the chip maker’s stock.
INTC has been the topic of a number of other research reports. Cascend Securities raised their price target on shares of Intel from $65.00 to $75.00 and gave the stock a buy rating in a report on Wednesday, January 22nd. FIX raised their price target on shares of Intel from $70.00 to $75.00 and gave the stock a buy rating in a report on Friday. Zacks Investment Research raised shares of Intel from a hold rating to a strong-buy rating and set a $59.00 price target on the stock in a report on Monday, October 28th. UBS Group raised their price target on shares of Intel from $60.00 to $75.00 and gave the stock a buy rating in a report on Friday. Finally, Sanford C. Bernstein raised their price target on shares of Intel from $42.00 to $50.00 and gave the stock an underperform rating in a report on Friday. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $65.00.
Intel stock traded down $1.82 during trading hours on Friday, reaching $66.65. The stock had a trading volume of 8,206,986 shares, compared to its average volume of 21,879,158. The stock has a market cap of $297.84 billion, a PE ratio of 14.12, a PEG ratio of 1.81 and a beta of 0.91. Intel has a 52 week low of $42.86 and a 52 week high of $69.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.40 and a quick ratio of 1.01. The company has a fifty day simple moving average of $59.25 and a 200-day simple moving average of $53.65.
Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 23rd. The chip maker reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The business had revenue of $20.20 billion for the quarter, compared to analyst estimates of $19.23 billion. Intel had a net margin of 29.25% and a return on equity of 29.01%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. Research analysts predict that Intel will post 5.04 earnings per share for the current fiscal year.
Intel declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the chip maker to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 7th will be given a dividend of $0.33 per share. This is a boost from Intel’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, February 6th. Intel’s dividend payout ratio (DPR) is 25.87%.
In related news, Director Frank D. Yeary sold 12,545 shares of Intel stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $60.35, for a total transaction of $757,090.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Navin Shenoy sold 1,404 shares of Intel stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.94, for a total transaction of $78,539.76. Following the transaction, the executive vice president now directly owns 58,168 shares of the company’s stock, valued at $3,253,917.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,284 shares of company stock valued at $4,517,194. 0.02% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Usca Ria LLC boosted its position in shares of Intel by 1.6% during the fourth quarter. Usca Ria LLC now owns 191,253 shares of the chip maker’s stock worth $11,447,000 after acquiring an additional 3,004 shares during the last quarter. Paragon Wealth Strategies LLC boosted its position in shares of Intel by 7.2% during the fourth quarter. Paragon Wealth Strategies LLC now owns 12,956 shares of the chip maker’s stock worth $775,000 after acquiring an additional 868 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of Intel by 3.2% in the fourth quarter. TCI Wealth Advisors Inc. now owns 32,836 shares of the chip maker’s stock valued at $1,965,000 after acquiring an additional 1,015 shares during the period. Transform Wealth LLC raised its stake in shares of Intel by 6.5% in the fourth quarter. Transform Wealth LLC now owns 80,658 shares of the chip maker’s stock valued at $4,827,000 after acquiring an additional 4,915 shares during the period. Finally, Fulton Bank N.A. raised its stake in shares of Intel by 4.8% in the fourth quarter. Fulton Bank N.A. now owns 99,845 shares of the chip maker’s stock valued at $5,976,000 after acquiring an additional 4,597 shares during the period. 65.37% of the stock is owned by institutional investors and hedge funds.
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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