Stock Update (NASDAQ:INTC): Intel Acquires Drone Company Ascending Technologies

[at Forbes] – Intel CEO Brian Krzanich demonstrates the collision avoidance capability of an AscTec Firefly multi-copter drone with Intel RealSense cameras at 2015 CES. (Photo by Ethan Miller/Getty Images) Chip makers are really into drones these days. Intel announced on Monday that it has acquired German drone company Ascending Technologies. The financial terms of the deal Read more on this. Intel Corporation (INTC) , valued at $159.64B, opened at $33.93. Looking at today’s market, INTC one day range is $33.46 to $33.96 and has traded between $24.87 and $37.49 over the past year. Priced at 15.45x this year’s forecasted earnings, INTC shares are relatively expensive compared to the industry’s 10.46x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $0.96 per share annually in dividends, yielding 2.79%. Consensus earnings for the current quarter by the 39 sell-side analysts covering the stock is an estimate of $0.63 per share, which would be $0.11 worse than the year-ago quarter and a $0.03 sequential increase. What we find to be interesting is that the full-year EPS estimate of $2.23 is a $0.08 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $14.80 Billion. If reported, that would be a 0.54% increase over the year-ago quarter. More recently, JMP Securities upgraded INTC from Mkt Perform to Mkt Outperform (Nov 20, 2015). Previously, JMP Securities upgraded INTC from Mkt Underperform to Mkt Perform. The average price target for INTC shares by the analysts covering it is $36.22, which is 6.75% above where the stock opened. See more in (NASDAQ:INTC) Similar Articles: Market Update: Intel Corporation (NASDAQ:INTC) – China Drone Maker Yuneec Eyes Acquisitions After Intel Investment Stock Update: Intel Corporation (NASDAQ:INTC) – Intel (INTC) Stock Down as RBC Initiates Coverage Company Update (NASDAQ:INTC): Here are some drone makers to watch as Intel invests $60M in one from China