Intel Corporation (NASDAQ:INTC) has announced a quarterly dividend of $1.04 per share on yearly basis. The dividend payment date is March 1, 2017, to shareholders of record on February 7. In unrelated news, Canaccord analyst Matthew Ramsay restated a ‘Buy’ rating on Intel stock and released a price target of $43 per share. That figure showed potential upside of 16.4% from its closing price of around $37 on January 20.
In a research note published January 18, Ramsay reported that he considered many factors would turn Intel lucrative shares to own in 2017. With around 3% dividend yield, a robust domestic employee and manufacturing base with increasing mix of unexposed growth operations, they consider Intel shares remain a major technology holding for 2017 at a lucrative valuation. Ramsay added that such positivity relies on the firm setting a more achievable growth target for its DCG ahead of February analyst day.
With a more achievable growth target, Canaccord considers the value of the differentiating and highly segregated DCG franchise will get more reflected in Intel’s stock price provided growth more than twofold the semiconductor macro that endures to diversify into memory, fabric, networking, server accelerator and interconnect markets along with core server silicon.
As of January 20, Ramsay was a 5-star analyst boasting a success rate of 65% and an average return of 19%. He was ranked at 52 out of 4,369 street analysts and rank 76 out of 10,124 total analysts on the accountability platform – TipRanks.com.
On January 26, Intel will release its fourth-quarter financial report after the market close. The firm’s stock has rebounded in the last year after a dull 2015. Shares fell 5.25% in 2015 and added 6.71% in 2016. Stock price has been flat, up merely 0.19%, since the start of 2017. As per TipRanks.com, Intel shares received a consensus “Strong Buy.”