Bath Savings Trust Co Increases Stake in Intel Co. (NASDAQ:INTC)

Alonzo Simpson
January 26, 2020

The company has benefited recently from demand for cloud-computing as companies migrate from owning servers to renting data storage and processing horsepower. Nomura raised their target price on Intel from $65.00 to $74.00 and gave the stock a "buy" rating in a report on Friday. Jefferies Financial Group raised shares of Intel from an "underperform" rating to a "hold" rating and increased their price objective for the company from $40.00 to $64.00 in a research note on Tuesday. KeyCorp restated a "hold" rating on shares of Intel in a research note on Friday, October 25th. "I have to give credit to the hyperscalers for this quarter". Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock.

Intel Corp's INTC.O shares hit their highest in almost two decades on Friday after cloud computing demand fired up the chipmaker's data center business and allayed concerns of market share loss to rival AMD, lifting stocks across the sector. That demand helped drive earnings significantly higher than Wall Street and Intel had projected, Chief Financial Officer George Davis said in an interview. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.20 and a quick ratio of 0.85. The firm has a market capitalization of $272.88 billion, a PE ratio of 16.00, a PEG ratio of 1.77 and a beta of 0.91. The business's 50-day moving average price is $59.00 and its 200 day moving average price is $53.55.

Intel substantially exceeded expectations and guided for very strong Q1 results and better than consensus 2020 top-line and earnings results.

Intel is forecasting first-quarter earnings of $1.30 per share and revenue of $19 billion, beating estimates of $1.04 in earnings and $17.19 billion in revenue, according to Refinitiv. Intel had a net margin of 27.46% and a return on equity of 28.28%. Intel's fourth-quarter revenue set an all-time quarterly record of $20.2 billion, which was $1 billion higher than October guidance led by record data-centric revenue, up 15 percent year over year (YoY).

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Consumer credit company American Express Co benefitted from a robust U.S. retail sales environment, posting a better-than-expected nine percent annual revenue increase. On average, equities analysts expect that Intel will post 4.61 earnings per share for the current fiscal year. The board declared a quarterly dividend of $0.33 per share on the company's common stock, which will be payable on March 1 to shareholders of record on February 7. This is a boost from Intel's previous quarterly dividend of $0.32. AMD offers no dividend and has no repurchase program, meaning their total yield is 0%. Intel's dividend payout ratio (DPR) is now 27.51%.

Intel's stock closed Thursday's session at $63.32 per share and traded higher by more than 6% in after-hours session. This buyback authorization authorizes the chip maker to buy up to 8.7% of its stock through open market purchases.

In related news, Director Frank D. Yeary sold 12,545 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $55.94, for a total value of $78,539.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Vaibhav Taneja sold 452 shares of the firm's stock in a transaction on Wednesday, November 13th. Following the completion of the transaction, the executive vice president now owns 58,168 shares of the company's stock, valued at $3,253,917.92. In 2015, the company was so distressed that the stock sank as low as $1.62.

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