Market Update (NASDAQ:INTC): Intel Extends Its IoT Reach With Itseez Purchase

[at Investopedia] – CEO Brian Krzanich has been discussing the need for Intel (NASDAQ: INTC) to move away from the world’s dying PC marketplace and transition into fast-growing markets including the cloud and Internet of … Read more on this. Intel Corporation (INTC) , with a current market cap of $148.96B, opened at $31.59. A quick look at the market, the company’s stock traded between $31.45 and $31.65 with a trailing 52-week range being $24.87 to $35.59. Priced at 13.07x this year’s forecasted earnings, INTC shares are relatively expensive compared to the industry’s 11.41x forward p/e ratio. The company pays shareholders $1.04 per share annually in dividends, yielding 3.35%. According to a consensus of 30 analysts, the earnings estimate of $0.53 per share would be $0.02 worse than the year-ago quarter and a $0.04 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.41 is a $0.08 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $13.53 Billion. If reported, that would be a 2.50% increase over the year-ago quarter. More recently, Credit Agricole Initiated INTC at Underperform (May 17, 2016). Previously, Northland Capital downgraded INTC from Outperform to Market Perform. Given all the information above, we should disclose to readers that the average price target is $35.24, which is 11.55% above than it opened this morning. See more in (NASDAQ:INTC) Similar Articles: Company Update: Intel Corporation (NASDAQ:INTC) – Intel (INTC) Stock Retreats, Pacific Crest: Expect Q1 Earnings Miss Company Update: Intel Corporation (NASDAQ:INTC) – Intel (INTC) Stock: Canaccord Lowers Price Target on PC Supply Chain Data Points Market Update: Intel Corporation (NASDAQ:INTC) – If Intel wins a tax fight with the IRS, all of Google’s 2015 taxes could be returned