Published On: Mon, Sep 19th, 2016

Intel Corp. (INTC) Given New $43.00 Price Target at Needham & Company LLC

Intel Corp. (NASDAQ:INTC) had its price target hoisted by research analysts at Needham & Company LLC from $38.00 to $43.00 in a research report issued on Monday. The brokerage currently has a “buy” rating on the chip maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 14.15% from the stock’s previous close.
Several other analysts have also weighed in on the company. Cowen and Company reissued a “market perform” rating and issued a $36.00 target price (up previously from $32.00) on shares of Intel Corp. in a report on Monday, July 11th. Evercore ISI raised Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, September 6th. Vetr lowered Intel Corp. from a “hold” rating to a “sell” rating and set a $31.46 target price on the stock. in a report on Monday, July 4th. Royal Bank Of Canada upped their target price on Intel Corp. from $33.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, July 8th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $36.00 target price on shares of Intel Corp. in a report on Wednesday, August 31st. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $38.08.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.67 on Monday. The firm has a market capitalization of $178.22 billion, a P/E ratio of 18.27 and a beta of 0.93. The company’s 50 day moving average price is $35.26 and its 200-day moving average price is $32.70. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.05.

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Intel Corp. (NASDAQ:INTC) last posted its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. Intel Corp.’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, equities analysts predict that Intel Corp. will post $2.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.76%. Intel Corp.’s payout ratio is presently 50.24%.
In other news, VP Gregory R. Pearson sold 1,506 shares of Intel Corp. stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the transaction, the vice president now directly owns 84,505 shares in the company, valued at $2,912,042.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory R. Pearson sold 250,192 shares of Intel Corp. stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $36.50, for a total value of $9,132,008.00. Following the completion of the transaction, the vice president now owns 92,826 shares in the company, valued at $3,388,149. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of INTC. Carnick & Kubik LLC purchased a new position in shares of Intel Corp. during the first quarter valued at about $100,000. Global X Management Co. LLC raised its position in shares of Intel Corp. by 52.0% in the second quarter. Global X Management Co. LLC now owns 3,037 shares of the chip maker’s stock valued at $100,000 after buying an additional 1,039 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of Intel Corp. by 36.3% in the second quarter. Penserra Capital Management LLC now owns 3,178 shares of the chip maker’s stock valued at $104,000 after buying an additional 847 shares in the last quarter. Nelson Roberts Investment Advisors LLC raised its position in shares of Intel Corp. by 55.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 3,443 shares of the chip maker’s stock valued at $113,000 after buying an additional 1,226 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock valued at $118,000 after buying an additional 1,998 shares in the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.
Intel Corp. Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.

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