Wells Fargo & Co Analysts Give Intel (INTC) a $58.00 Price Target

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Wells Fargo & Co set a $58.00 price objective on Intel (NASDAQ:INTC) in a research note issued to investors on Monday. The brokerage currently has a buy rating on the chip maker’s stock.

Several other research analysts also recently weighed in on the stock. Bank of America downgraded shares of Intel from a buy rating to a neutral rating and dropped their target price for the stock from $62.00 to $56.00 in a research report on Friday, July 27th. Morgan Stanley lifted their target price on shares of Intel from $55.00 to $56.00 and gave the stock a neutral rating in a research report on Friday, July 27th. B. Riley dropped their target price on shares of Intel from $65.00 to $63.00 and set a buy rating on the stock in a research report on Friday, July 27th. Morningstar set a $65.00 price target on shares of Intel and gave the stock a buy rating in a report on Thursday, August 9th. Finally, Sanford C. Bernstein restated a sell rating and set a $38.00 price target on shares of Intel in a report on Tuesday, April 24th. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have issued a buy rating to the company. Intel has a consensus rating of Hold and an average price target of $55.55.

Intel stock opened at $46.50 on Monday. The company has a market capitalization of $220.35 billion, a PE ratio of 11.77, a PEG ratio of 1.35 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35. Intel has a fifty-two week low of $34.38 and a fifty-two week high of $57.60.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The business had revenue of $16.96 billion for the quarter, compared to the consensus estimate of $16.78 billion. Intel had a net margin of 20.07% and a return on equity of 27.33%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. equities research analysts predict that Intel will post 4.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Tuesday, August 7th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Monday, August 6th. Intel’s dividend payout ratio (DPR) is presently 34.68%.

In other Intel news, EVP Navin Shenoy sold 601 shares of Intel stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $47.69, for a total value of $28,661.69. Following the completion of the sale, the executive vice president now directly owns 40,903 shares in the company, valued at $1,950,664.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Ralph Rodgers sold 1,251 shares of Intel stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $48.37, for a total transaction of $60,510.87. The disclosure for this sale can be found here. Insiders sold 4,065 shares of company stock valued at $205,200 over the last quarter. Corporate insiders own 0.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV lifted its stake in shares of Intel by 1.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 233,668 shares of the chip maker’s stock worth $11,616,000 after buying an additional 2,323 shares during the last quarter. Orleans Capital Management Corp LA lifted its stake in shares of Intel by 4.5% in the second quarter. Orleans Capital Management Corp LA now owns 42,555 shares of the chip maker’s stock worth $2,115,000 after buying an additional 1,825 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Intel by 3.6% in the second quarter. GHP Investment Advisors Inc. now owns 120,848 shares of the chip maker’s stock worth $6,007,000 after buying an additional 4,231 shares during the last quarter. Global X Management Co LLC lifted its stake in shares of Intel by 51.8% in the second quarter. Global X Management Co LLC now owns 156,182 shares of the chip maker’s stock worth $7,764,000 after buying an additional 53,308 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC lifted its stake in shares of Intel by 7.2% in the second quarter. Carnegie Capital Asset Management LLC now owns 131,657 shares of the chip maker’s stock worth $6,376,000 after buying an additional 8,889 shares during the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

About Intel

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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