Published: Fri, March 17, 2017
Money | By Oscar Reynolds

Intel acquires self-driving technology maker - Mobileye

Intel acquires self-driving technology maker - Mobileye

Intel is expecting by 2020 the driverless cars will create 4000GB of data per day. Following the transaction, the executive vice president now owns 106,566 shares of the company's stock, valued at approximately $4,005,815.94. Vident Investment Advisory LLC raised its stake in shares of Intel by 1.1% in the fourth quarter. But the world's biggest chipmaker has consumed the past 18 months on financing in and procuring organizations as well as restructuring their own company, all in an endeavor to assure it doesn't miss out on the other business dealings.

Shares of Intel Co.

Following previous ticker characteristics, Intel Corporation (NASDAQ:INTC) also run on active notice, stock price inched up 0.06% after traded at $35.18 in most recent trading session. The stock's current distance from 20-Day Simple Moving Average (SMA20) is -2.32% where SMA50 and SMA200 are -3.08% and 0.76% respectively.

Finally, in August 2015, a year after Mobileye's massive IPO, and long before the surge in its business, the company's market cap stood at $13.52 billion. The chip maker reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.04. Canaccord concedes Intel shares generate a strong yield and remain low-priced, but it believes shares could remain range bound as margins stagnate and until investors see proof that new investments in 10/7nm, IoT, memory and now automotive are capable of generating strong returns within a reasonable time horizon. The company had revenue of $16.40 billion for the quarter, compared to the consensus estimate of $15.75 billion. The two companies, along with BMW Group, have been partners since previous year in a joint project to begin producing self-driving cars by 2021. The transaction will be financed using Intel's offshore cash, and the deal is expected to close within nine months.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 7th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $1.04 annualized dividend and a yield of 2.96%.

This report was published by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and global trademark and copyright legislation. The legal version of this news story can be read at [[permalink]]. Chicago-based equity research firm Zacks Investment Research has assigned this stock ABR (Average Brokerage Recommendation) of 1.89, indicating analysts in general look favorably on the company's future prospects. Loop Capital started coverage on Intel in a research note on Tuesday, December 13th. Finally, Wells Fargo & Co reissued a top pick rating and set a $45.00 price target on shares of Intel in a research report on Tuesday, January 3rd. Credit Suisse Group AG's target price suggests a potential downside of 0.48% from the stock's current price. 10,871,366 shares of the stock were exchanged. The stock gained 0.56% in total of its share price. The stock was sold at an average price of $36.34, for a total transaction of $2,028,535.14. The disclosure for this sale can be found here. During the same quarter previous year, the firm earned $0.74 earnings per share.

Intel has some serious issues that it needs to work out in its core businesses - namely, it has to improve its product execution in PC and data center processors and platforms while at the same time substantially improving its execution in chip manufacturing technology. The CCG operating segment includes platforms that integrates in notebook, two in one systems, desktop computers for consumers and businesses, tablets, and phones.

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