Intel (NASDAQ:INTC) had its price target lowered by Mizuho from $63.00 to $60.00 in a research note published on Friday, The Fly reports. The firm currently has a buy rating on the chip maker’s stock.
A number of other research firms have also recently weighed in on INTC. Needham & Company LLC restated a hold rating on shares of Intel in a research note on Tuesday, July 7th. Wells Fargo & Company lowered their price target on Intel from $60.00 to $55.00 in a report on Friday, July 24th. Morgan Stanley lowered their price target on Intel from $65.00 to $61.00 and set an equal weight rating on the stock in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft lowered Intel from a buy rating to a hold rating and lowered their price target for the stock from $70.00 to $60.00 in a report on Friday, July 24th. They noted that the move was a valuation call. Finally, Sanford C. Bernstein reissued a sell rating and set a $45.00 price target on shares of Intel in a report on Tuesday, October 20th. Thirteen investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Intel currently has a consensus rating of Hold and an average target price of $57.76.
Shares of Intel stock opened at $46.72 on Friday. The firm has a market capitalization of $198.70 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 1.50 and a beta of 0.72. Intel has a fifty-two week low of $43.63 and a fifty-two week high of $69.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.58 and a current ratio of 1.97. The stock has a 50 day moving average of $51.15 and a 200 day moving average of $55.40.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 22nd. The chip maker reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.01. Intel had a return on equity of 31.55% and a net margin of 29.97%. The company had revenue of $18.33 billion during the quarter, compared to analyst estimates of $18.26 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. Analysts forecast that Intel will post 4.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Saturday, November 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.32 annualized dividend and a dividend yield of 2.83%. Intel’s dividend payout ratio is currently 27.10%.
In other Intel news, EVP Navin Shenoy sold 2,847 shares of Intel stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $48.18, for a total value of $137,168.46. Following the completion of the sale, the executive vice president now directly owns 71,807 shares of the company’s stock, valued at approximately $3,459,661.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin Thomas Mcbride sold 4,400 shares of Intel stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $49.28, for a total transaction of $216,832.00. Following the completion of the sale, the vice president now directly owns 14,214 shares of the company’s stock, valued at $700,465.92. The disclosure for this sale can be found here. Insiders sold a total of 7,491 shares of company stock valued at $365,878 over the last ninety days. 0.04% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Court Place Advisors LLC grew its stake in Intel by 1.0% in the 3rd quarter. Court Place Advisors LLC now owns 127,406 shares of the chip maker’s stock worth $6,597,000 after acquiring an additional 1,217 shares during the period. Sonora Investment Management LLC grew its stake in shares of Intel by 10.8% during the 3rd quarter. Sonora Investment Management LLC now owns 105,740 shares of the chip maker’s stock valued at $5,475,000 after buying an additional 10,264 shares during the period. Palisade Asset Management LLC grew its stake in shares of Intel by 1.8% during the 3rd quarter. Palisade Asset Management LLC now owns 155,038 shares of the chip maker’s stock valued at $8,028,000 after buying an additional 2,699 shares during the period. State of Michigan Retirement System grew its stake in shares of Intel by 1.7% during the 3rd quarter. State of Michigan Retirement System now owns 1,851,635 shares of the chip maker’s stock valued at $95,878,000 after buying an additional 30,500 shares during the period. Finally, Naples Global Advisors LLC grew its stake in shares of Intel by 8.2% during the 3rd quarter. Naples Global Advisors LLC now owns 94,557 shares of the chip maker’s stock valued at $4,896,000 after buying an additional 7,185 shares during the period. 64.41% of the stock is owned by hedge funds and other institutional investors.
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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