Stock Update: Intel Corporation (NASDAQ:INTC) – Intel Challenges Record EU Antitrust Fine at Top EU Court

Intel Corporation (NASDAQ:INTC) [at Bloomberg] – Intel Corp. (INTC) asked the European Union’s top court to throw out a record 1.06 billion-euro ($1.4 billion) antitrust fine, saying a lower court was wrong to back the decision. The world’s biggest chipmaker asked the European Court of Justice to overturn a June ruling that entirely rejected Intel’s bid to erase the 2009 penalty for giving rebates to computer makers that favored its chips and shunned the products of its main competitor, Advanced Micro Devices Inc. Intel’s legal challenge asserts “legal errors” in the judgment, spokesman Chuck Mulloy said in an e-mailed statement. EU antitrust regulators haven’t lost a monopoly abuse case at the Luxembourg-based courts in the last two decades.
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Intel Corporation (INTC), with a current value of $172.12B, opened at $34.88.
 
Looking at the equity, the company’s one day range is $34.63 to $34.94 with its 52-week range being $21.90 to $35.20.
 
INTC shares are currently priced at 15.96x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.92x earnings multiple.
 
The company pays shareholders $0.90 per share in dividend income per year, for a current yield of 2.60%.
 
In a review of the consensus earnings estimate this quarter, 38 sell-side analysts are looking at $0.64 per share, which would be $0.06 better than the year-ago quarter and a $0.13 sequential increase. The full-year EPS estimate is $2.18 which would be a $0.29 better than last year’s full-year earnings.
 
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $14.41 Billion. If realized, that would be a 6.90% increase over the year-ago quarter.
 
More recently, UBS upgraded INTC from Neutral to Buy (Jul 16, 2014). Previously, Imperial Capital Initiated INTC at to Outperform.
 
When considering if the stock is under or overvalued, the average price target is $33.75, which is 3.24% below where the stock opened this morning.
 
Summary (NASDAQ:INTC) :  Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. It operates through PC Client Group, Data Center Group, Other Intel Architecture, Software and Services, and All Other segments. The company’s platforms are used in various computing applications comprising notebooks, desktops, servers, tablets, smartphones, automobile infotainment systems, automated factory systems, and medical devices. It offers microprocessors that processes system data and controls other devices in the system; and chipsets, which send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive or solid-state drive, and optical disc drives; system-on-chip products that integrate its processing functions with other system components, including graphics, audio, and video onto a single chip; wired network connectivity products; and wireless connectivity products. The company also provides mobile components comprising baseband processors, radio frequency transceivers, WiFi products, Bluetooth products, global navigation satellite system, and power management chips; and gateway and set-top box components. In addition, it offers endpoint security, network and content security, risk and compliance, and consumer and mobile security software products for consumer, mobile, and corporate environments to protect systems from malicious virus attacks, as well as loss of data. Further, the company provides NAND flash memory products, which are used in solid-state drives; and custom foundry services. Intel Corporation sells its products primarily to original equipment manufacturers, original design manufacturers, and industrial and communications equipment manufacturers in the computing and communications industries. It has strategic agreement with Rockchip and Unity Technologies. Intel Corporation was founded in 1968 and is based in Santa Clara, California.
 
Tag Helper ~ Stock Code: INTC | Common Company name: Intel | Full Company name: Intel Corporation (NASDAQ:INTC) .


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