Zacks reissued their neutral rating on shares of Intel (NASDAQ: INTC) in a research report released on Thursday morning. Zacks currently has a $22.00 price target on the stock.
Zacks’ analyst wrote, “Intel is one of the leading producers of microprocessors in the world. We think that weakness in mature markets, economic headwinds in some emerging markets, and pressure from tablets and other competitors are taking a toll on the company. However, Intel’s $0.05 positive surprise versus the Zacks Consensus in the fourth quarter was encouraging. The business continues to be driven by the server and software businesses, supported by a moderate PC business. We also remain positive about Intel’s dominance in the high-margin server segment and promise of success in the mobile segment, although competition from ARM-based devices is strong. We therefore have a Neutral rating on the shares.”
Zacks has also taken action a number of other technology stocks recently. The firm reiterated its neutral rating on shares of Analog Devices. They have a $49.00 price target on that stock. Also, Zacks downgraded shares of Cypress Semi from a neutral rating to an underperform rating. Their analysts now have a $9.00 price target on that stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen initiated coverage on shares of Intel in a research note to investors on Monday, February 4th. They set a neutral rating on the stock. Separately, analysts at Barclays Capital reiterated an equal weight rating on shares of Intel in a research note to investors on Friday, January 18th. They now have a $20.00 price target on the stock. Finally, analysts at Morgan Stanley cut their price target on shares of Intel from $22.50 to $20.00 in a research note to investors on Friday, January 18th. They now have an underweight rating on the stock.
Sixteen equities research analysts have rated the stock with a buy rating, two have issued an overweight rating, twenty-five have given a hold rating, two have assigned an underweight rating, and five have assigned a sell rating to the company. The stock currently has an average rating of hold and a consensus price target of $22.84.
Shares of Intel traded up 0.24% during mid-day trading on Thursday, hitting $20.47. Intel has a 52 week low of $19.23 and a 52 week high of $29.27. The stock’s 50-day moving average is currently $21.24. The company has a market cap of $101.2 billion and a P/E ratio of 9.59.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 1st. Investors of record on Thursday, February 7th will be paid a dividend of $0.23 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Tuesday, February 5th.
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