Intel Corporation (INTC) is Reiterated by RBC Capital Mkts to Sector Perform, Lowers Price Target to $ 37

Intel Corporation (INTC) was Reiterated by RBC Capital Mkts to “Sector Perform” while Lowering the Price Target of the company shares to $ 37 from a previous price target of $38 . RBC Capital Mkts advised their investors in a research report released on Oct 19, 2016.

Many Wall Street Analysts have commented on Intel Corporation. Company shares were Upgraded by Barclays on Oct 18, 2016 to ” Overweight”, Firm has raised the Price Target to $ 45 from a previous price target of $38 .Intel Corporation was Initiated by Susquehanna to “Positive” on Sep 20, 2016. Company shares were Reiterated by Canaccord Genuity on Sep 20, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $40 .

On the company’s financial health, Intel Corporation reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $0.72. The company had revenue of $15778.00 million for the quarter, compared to analysts expectations of $15605.45 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Intel Corporation opened for trading at $37.19 and hit $37.7 on the upside on Friday, eventually ending the session at $37.45, with a gain of 1.30% or 0.48 points. The heightened volatility saw the trading volume jump to 1,91,23,944 shares. Company has a market cap of $177,176 M.

Investors should note that on Sep 15, 2016, Intel Corporation announced a cash dividend of $0.2600. The company’s management has announced Nov 3, 2016 as the ex-dividend date and fixed the record date on Nov 7, 2016. The payable date has been fixed on Dec 1, 2016.

In a different news, on Oct 5, 2016, Brian M Krzanich (CEO) sold 67,508 shares at $37.71 per share price. According to the SEC, on Sep 7, 2016, Gregory R Pearson (Sr. VP, GM, Sales & Mktg Grp) sold 250,192 shares at $36.50 per share price. On Jul 28, 2016, Venkata S M Renduchintala (EVP, Pres Client & IOT & SAG) sold 13,997 shares at $34.71 per share price, according to the Form-4 filing with the securities and exchange commission.

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company sells these platforms to original equipment manufacturers (OEMs) original design manufacturers (ODMs) and industrial and communications equipment manufacturers in the computing and communications industries. The Company’s platforms are used to deliver a range of computing experiences in notebooks 2 in 1 systems desktops servers tablets smartphones and the Internet of Things. It also develops and sells software and services focused on security and technology integration. The Company’s operating segments include the PC Client Group (PCCG) the Data Center Group (DCG) the Internet of Things Group (IOTG) the Mobile and Communications Group (MCG) the software and services (SSG) and all other. SSG segment includes McAfee and software and services group. All Other segment includes Non-Volatile Memory Solutions Group Netbook Group and New Devices Group.

Intel Corporation

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