Intel Corporation (INTC) Upgraded to ‘Buy’ By Argus

Intel Corporation (INTC) Upgraded to ‘Buy’ By Argus
By The original uploader was VD64992 at English Wikipedia [Public domain], <a href="">via Wikimedia Commons</a>

Intel Corporation (NASDAQ:INTC) has been upgraded to “Buy” by analysts at Argus in a research note issued to investors on August 30th 2013. Intel Corporation designs and manufactures integrated digital technology platforms that consist of a microprocessor and chipset.

Intel Corporation (INTC) Upgraded to ‘Buy’ By Argus

Recent ratings by other analysts

Intel Corporation (NASDAQ:INTC) has been subjected to a number of other analyst’s ratings. Goldman Sachs analysts have maintained a “Sell” rating on the stock with a target price of $16.00. Additionally, The Street analysts have maintained a “Buy” rating on the shares of Intel Corp in their research note released on August 23rd. Piper Jaffray analysts have increased their rating on Intel from “Underweight” to “Neutral” in a research note published on August 19th and assigned it a target price of $22 from $20 earlier.

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Overall, six analysts have ‘sell’ ratings on Intel, while sixteen have ‘hold’ and fifteen have a ‘buy’ rating. On average, Intel has a consensus rating of “Hold” and an average target price of $23.95.

Intel 2Q performance

The chip maker reported its second quarter earnings on July 17th. Earnings per share, for the quarter, came in at $0.39, which was in line with the consensus estimates of $0.39. Intel posted revenue of $12.80 billion, which also met analysts’ expectations of $12.89 billion. Quarterly revenue for Intel declined 5.1 percent on a year-over-year basis. Analysts on average expect Intel to post $1.87 earnings per share for the current fiscal year.

Intel Corporation (NASDAQ:INTC) has announced a quarterly dividend of $0.23 per share to the shareholders, which is scheduled to be paid on September 1st to shareholders of record on August 7th. This represents a $0.90 dividend on an annualized basis and a yield of 4.08 percent.

Insider transaction

In separate news, Vice President David Perlmutter unloaded 443,375 shares of Intel Corp. on the open market in a transaction dated Monday, August 19th. The shares fetched an average price of $22.29, for a total value of $9,882,828.75. Perlmutter holds 573,490 shares in the company now, says a filing with the Securities & Exchange Commission (SEC).

Intel Corporation (NASDAQ:INTC) stock opened at $22.06 on Friday. Stock holds a 52-week low of $19.23 and 52-week high of $25.98. Fifty-day moving average for Intel’s shares comes in at $22.86 and 200-days moving average of $22.86. Market value of the company at present is $109.9 billion and a P/E ratio of 11.92.

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