Intel (NASDAQ:INTC) had its price objective raised by Wedbush from $46.00 to $52.50 in a research note released on Friday, BenzingaRatingsTable reports. They currently have an underperform rating on the chip maker’s stock. Wedbush also issued estimates for Intel’s Q2 2020 earnings at $1.12 EPS, Q3 2020 earnings at $1.28 EPS, Q4 2020 earnings at $1.33 EPS, FY2020 earnings at $5.05 EPS, Q1 2021 earnings at $1.14 EPS, Q2 2021 earnings at $1.15 EPS, Q3 2021 earnings at $1.34 EPS, Q4 2021 earnings at $1.40 EPS and FY2021 earnings at $5.02 EPS.
Other research analysts also recently issued research reports about the company. Wells Fargo & Co lifted their price target on Intel from $58.00 to $70.00 and gave the company an equal weight rating in a report on Friday. Susquehanna Bancshares reiterated a buy rating and set a $62.00 price target on shares of Intel in a report on Wednesday, January 22nd. BidaskClub downgraded Intel from a buy rating to a hold rating in a research note on Friday, January 17th. UBS Group boosted their target price on Intel from $60.00 to $75.00 and gave the company a buy rating in a research note on Friday. Finally, FIX boosted their target price on Intel from $70.00 to $75.00 and gave the company a buy rating in a research note on Friday. Eight equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $65.00.
Shares of INTC stock traded down $1.82 on Friday, reaching $66.65. 8,206,986 shares of the company’s stock traded hands, compared to its average volume of 21,879,158. Intel has a 12-month low of $42.86 and a 12-month high of $69.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.01 and a current ratio of 1.40. The company has a market capitalization of $297.84 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.81 and a beta of 0.91. The business’s 50 day moving average price is $59.25 and its two-hundred day moving average price is $53.65.
Intel declared that its board has authorized a stock repurchase program on Thursday, October 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the chip maker to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed 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 represents a $1.32 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, February 6th. This is a boost from Intel’s previous quarterly dividend of $0.32. Intel’s payout ratio is currently 25.87%.
In other Intel news, EVP Navin Shenoy sold 1,404 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.94, for a total value of $78,539.76. Following the completion of the transaction, the executive vice president now owns 58,168 shares of the company’s stock, valued at approximately $3,253,917.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jennifer Balliet sold 6,833 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $24.25, for a total value of $165,700.25. Insiders have sold a total of 81,284 shares of company stock valued at $4,517,194 in the last three months. 0.02% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Tower View Investment Management & Research LLC bought a new stake in shares of Intel in the 4th quarter valued at approximately $31,000. Corbenic Partners LLC bought a new stake in shares of Intel in the 4th quarter valued at approximately $41,000. Intercontinental Wealth Advisors LLC grew its stake in shares of Intel by 83.0% in the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock valued at $51,000 after purchasing an additional 450 shares during the period. Lenox Wealth Advisors LLC grew its stake in shares of Intel by 117.4% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock valued at $52,000 after purchasing an additional 540 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Intel by 114.7% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 976,135 shares of the chip maker’s stock valued at $58,000 after purchasing an additional 521,534 shares during the period. 65.37% of the stock is owned by hedge funds and other institutional investors.
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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