Intel Corporation (INTC) Sets New 52-Week High After Strong Earnings

Shares of Intel Corporation (NASDAQ:INTC) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $41.15 and last traded at $41.14, with a volume of 14,436,532 shares trading hands. The stock had previously closed at $40.78.

The chip maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. Intel Corporation had a net margin of 22.31% and a return on equity of 22.96%. The company had revenue of $16.15 billion during the quarter, compared to analyst estimates of $15.73 billion. During the same period in the previous year, the business earned $0.80 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be issued a $0.2725 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a yield of 2.45%. Intel Corporation’s payout ratio is currently 38.11%.

A number of equities research analysts have commented on the stock. Jefferies Group LLC reaffirmed an “underperform” rating and issued a $30.00 target price (up previously from $29.00) on shares of Intel Corporation in a research report on Friday, July 28th. They noted that the move was a valuation call. Sanford C. Bernstein set a $30.00 target price on shares of Intel Corporation and gave the stock a “sell” rating in a research report on Tuesday, August 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $40.00 target price (up previously from $37.00) on shares of Intel Corporation in a research report on Friday, October 6th. KeyCorp reaffirmed a “buy” rating and issued a $50.00 target price on shares of Intel Corporation in a research report on Friday. Finally, Hilliard Lyons assumed coverage on shares of Intel Corporation in a research report on Wednesday, July 12th. They issued a “buy” rating and a $41.00 target price for the company. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Intel Corporation currently has a consensus rating of “Buy” and an average price target of $42.69.

In related news, EVP Diane M. Bryant sold 1,639 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $40.91, for a total transaction of $67,051.49. Following the completion of the sale, the executive vice president now owns 113,086 shares of the company’s stock, valued at $4,626,348.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Diane M. Bryant sold 2,119 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $41.06, for a total transaction of $87,006.14. Following the sale, the executive vice president now directly owns 114,091 shares of the company’s stock, valued at approximately $4,684,576.46. The disclosure for this sale can be found here. Insiders have sold 81,038 shares of company stock valued at $3,098,786 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Watermark Asset Management Inc. purchased a new position in shares of Intel Corporation in the first quarter worth $113,000. Acrospire Investment Management LLC raised its holdings in shares of Intel Corporation by 111.8% in the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after buying an additional 1,900 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings 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 worth $146,000 after buying an additional 1,400 shares during the last quarter. Vigilant Capital Management LLC raised its holdings 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 worth $158,000 after buying an additional 805 shares during the last quarter. Finally, Family Capital Trust Co raised its holdings in shares of Intel Corporation by 350.0% in the third quarter. Family Capital Trust Co now owns 4,500 shares of the chip maker’s stock worth $171,000 after buying an additional 3,500 shares during the last quarter. 67.11% of the stock is owned by institutional investors.

The stock has a 50-day moving average price of $38.32 and a 200-day moving average price of $36.19. The company has a market capitalization of $208.64 billion, a price-to-earnings ratio of 16.95 and a beta of 1.07.

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Intel Corporation Company Profile

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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