Wells Fargo & Company cut shares of Intel Corporation (NASDAQ:INTC) to a market weight rating in a research note issued to investors on Monday morning, The Fly reports.
A number of other brokerages also recently issued reports on INTC. Zacks Investment Research downgraded Intel Corporation from a hold rating to a sell rating in a research report on Monday, July 17th. Stifel Nicolaus reaffirmed a buy rating and set a $39.00 price target on shares of Intel Corporation in a research report on Friday, July 14th. Bank of America Corporation downgraded Intel Corporation from a buy rating to a neutral rating and reduced their price target for the stock from $42.00 to $38.00 in a research report on Wednesday, June 21st. Credit Suisse Group reaffirmed a neutral rating and set a $35.00 price target on shares of Intel Corporation in a research report on Tuesday, July 4th. Finally, Vetr raised Intel Corporation from a hold rating to a buy rating and set a $37.50 price target on the stock in a research report on Monday, April 10th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-six have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $40.56.
Shares of Intel Corporation (INTC) opened at 36.64 on Monday. The firm has a 50 day moving average price of $34.56 and a 200-day moving average price of $35.72. The company has a market cap of $172.17 billion, a price-to-earnings ratio of 13.98 and a beta of 1.01. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $38.45.
Intel Corporation (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. Intel Corporation’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, equities analysts expect that Intel Corporation will post $2.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be given a $0.2725 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.09 annualized dividend and a yield of 2.97%. Intel Corporation’s dividend payout ratio is presently 41.76%.
In other Intel Corporation news, CFO Robert Holmes Swan purchased 13,888 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was bought at an average price of $36.31 per share, with a total value of $504,273.28. Following the transaction, the chief financial officer now directly owns 8,774 shares of the company’s stock, valued at approximately $318,583.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the completion of the transaction, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. Insiders sold a total of 90,497 shares of company stock valued at $3,078,329 in the last three months. 0.09% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Watermark Asset Management Inc. acquired a new position in shares of Intel Corporation during the first quarter valued at approximately $113,000. Orrstown Financial Services Inc. boosted its position in shares of Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock valued at $134,000 after buying an additional 1,830 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after buying an additional 1,400 shares in the last quarter. Winfield Associates Inc. boosted its position in shares of Intel Corporation by 6.0% in the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after buying an additional 265 shares in the last quarter. Finally, Vigilant Capital Management LLC boosted its position in shares of Intel Corporation by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after buying an additional 805 shares in the last quarter. 67.41% of the stock is owned by institutional investors.
About Intel Corporation
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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