Intel (NASDAQ:INTC) had its price objective cut by Credit Suisse Group from $70.00 to $65.00 in a report released on Friday, Analyst Ratings Network reports. They currently have a buy rating on the chip maker’s stock. The analysts noted that the move was a valuation call.
INTC has been the topic of a number of other research reports. Northland Securities started coverage on shares of Intel in a research report on Friday, September 11th. They issued a sell rating and a $48.00 price objective on the stock. Barclays lowered shares of Intel from an equal weight rating to an underweight rating and dropped their price target for the stock from $58.00 to $48.00 in a research report on Friday, July 24th. BidaskClub raised shares of Intel from a sell rating to a hold rating in a research report on Tuesday, October 20th. Cowen dropped their price target on shares of Intel from $55.00 to $50.00 and set a market perform rating on the stock in a research report on Friday. Finally, Royal Bank of Canada reaffirmed a sell rating and set a $48.00 price target on shares of Intel in a research report on Tuesday, October 20th. Thirteen equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Intel currently has a consensus rating of Hold and a consensus target price of $57.76.
Shares of INTC stock opened at $46.72 on Friday. The company’s fifty day simple moving average is $51.15 and its 200-day simple moving average is $55.40. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44. The firm has a market cap of $198.70 billion, a PE ratio of 8.60, a P/E/G ratio of 1.50 and a beta of 0.72. Intel has a 12 month low of $43.63 and a 12 month high of $69.29.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 22nd. The chip maker reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.01. The business had revenue of $18.33 billion for the quarter, compared to analyst estimates of $18.26 billion. Intel had a net margin of 29.97% and a return on equity of 31.55%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share. On average, equities analysts predict that Intel will post 4.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Saturday, November 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.32 dividend on an annualized basis and a yield of 2.83%. Intel’s payout ratio is 27.10%.
In other news, VP Kevin Thomas Mcbride sold 4,400 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $49.28, for a total value of $216,832.00. Following the sale, the vice president now directly owns 14,214 shares in the company, valued at approximately $700,465.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Navin Shenoy sold 2,847 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $48.18, for a total transaction of $137,168.46. Following the completion of the sale, the executive vice president now owns 71,807 shares in the company, valued at $3,459,661.26. The disclosure for this sale can be found here. Insiders have sold 7,491 shares of company stock worth $365,878 over the last quarter. Corporate insiders own 0.04% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of INTC. Modus Advisors LLC acquired a new stake in shares of Intel in the 2nd quarter valued at approximately $25,000. Price Wealth LLC boosted its stake in shares of Intel by 119.5% in the 2nd quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after purchasing an additional 251 shares in the last quarter. FAI Wealth Management boosted its stake in shares of Intel by 390.4% in the 2nd quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 406 shares in the last quarter. Okabena Investment Services Inc. bought a new position in Intel in the 2nd quarter valued at approximately $42,000. Finally, Demars Financial Group LLC bought a new position in Intel in the 2nd quarter valued at approximately $43,000. Institutional investors own 64.41% of the company’s stock.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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