Company Update: Intel Corporation (NASDAQ:INTC) – Google Taps IBM, Rackspace to Dent Intel’s Hold on Server Chips

[at Bloomberg] – Google has technology to easily switch away from Intel Corp. server chips and is helping other companies do the same, a potentially worrying development for the dominant provider of processors that power … Read more on this. Intel Corporation (INTC) , currently valued at $151.55B, opened at $31.92. Looking at today’s trading action, the company’s one day range from $31.77 to $32.23 and has traded between $24.87 and $35.59 over the past year. Priced at 13.40x this year’s forecasted earnings, INTC shares are relatively expensive compared to the industry’s 1.20x forward p/e ratio. And for passive income investors, the company pays shareholders $1.04 per share annually in dividends, yielding 3.25%. Consensus earnings for the current quarter by the 27 sell-side analysts covering the stock is an estimate of $0.48 per share, which would be $0.07 better than the year-ago quarter and a $0.02 sequential decrease. The full-year EPS estimate is $2.38 which would be a $0.05 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $13.93 Billion. If reported, that would be a 9.00% increase over the year-ago quarter. Recently, Exane BNP Paribas downgraded INTC from Outperform to Neutral (Apr 4, 2016). Previously, Bernstein downgraded INTC from Mkt Perform to Underperform. The average price target for INTC shares by the analysts covering the stock is $35.86, which is 12.34% above where the stock opened this morning. See more in (NASDAQ:INTC) Similar Articles: Company Update (NYSE:IBM): Google Taps IBM, Rackspace to Dent Intel’s Hold on Server Chips Company Update (NASDAQ:GOOG): Google Taps IBM, Rackspace to Dent Intel’s Hold on Server Chips Market Update: Intel Corporation (NASDAQ:INTC) – If Intel wins a tax fight with the IRS, all of Google’s 2015 taxes could be returned