Macquarie Reaffirms “Buy” Rating for Intel (INTC)

Macquarie reiterated their buy rating on shares of Intel (NASDAQ:INTC) in a research report report published on Wednesday morning. Macquarie currently has a $58.00 price target on the chip maker’s stock.

Several other equities research analysts also recently issued reports on INTC. Robert W. Baird set a $64.00 price target on Intel and gave the company a buy rating in a research report on Thursday, July 12th. Royal Bank of Canada reaffirmed a neutral rating and issued a $60.00 price target on shares of Intel in a research report on Monday, July 16th. Stifel Nicolaus reaffirmed a neutral rating and issued a $60.00 price target on shares of Intel in a research report on Monday, July 16th. Citigroup downgraded Intel from a buy rating to a neutral rating and set a $64.00 price target on the stock. in a research report on Friday, July 27th. Finally, Bank of America downgraded Intel from a buy rating to a neutral rating and lowered their price target for the company from $62.00 to $56.00 in a research report on Friday, July 27th. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $55.27.

Shares of NASDAQ:INTC traded down $0.88 during midday trading on Wednesday, hitting $48.11. The company’s stock had a trading volume of 21,752,763 shares, compared to its average volume of 33,445,756. The company has a market cap of $227.93 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.28 and a beta of 0.88. Intel has a fifty-two week low of $42.04 and a fifty-two week high of $57.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.51.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.25. The company had revenue of $19.16 billion for the quarter, compared to the consensus estimate of $18.11 billion. Intel had a return on equity of 29.64% and a net margin of 21.91%. As a group, equities analysts predict that Intel will post 4.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Tuesday, November 6th. Intel’s payout ratio is 34.68%.

In other Intel news, VP Kevin Thomas Mcbride sold 6,500 shares of Intel stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total transaction of $295,945.00. Following the sale, the vice president now directly owns 14,271 shares of the company’s stock, valued at $649,758.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of Intel stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the sale, the executive vice president now directly owns 30,324 shares in the company, valued at $1,384,593.84. The disclosure for this sale can be found here. Insiders have sold 8,747 shares of company stock worth $398,552 over the last ninety days. Company insiders own 0.03% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HC Financial Advisors Inc. bought a new position in shares of Intel in the fourth quarter valued at approximately $1,320,000. Financial Gravity Wealth Inc. bought a new position in shares of Intel in the first quarter valued at approximately $120,000. Quantitative Systematic Strategies LLC bought a new position in shares of Intel in the first quarter valued at approximately $595,000. Lyell Wealth Management LP raised its stake in shares of Intel by 5.8% in the first quarter. Lyell Wealth Management LP now owns 62,693 shares of the chip maker’s stock valued at $3,265,000 after acquiring an additional 3,410 shares during the last quarter. Finally, Psagot Investment House Ltd. raised its stake in shares of Intel by 13.6% in the first quarter. Psagot Investment House Ltd. now owns 57,280 shares of the chip maker’s stock valued at $2,983,000 after acquiring an additional 6,860 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

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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