Barclays Increases Intel Price Target to $26.00 (INTC)
Investment analysts at Barclays hoisted their price objective on shares of Intel (NASDAQ:INTC) from $24.00 to $26.00 in a note issued to investors on Friday. The firm currently has an “equal weight” rating on the stock. Barclays’ price target would suggest a potential downside of 7.01% from the stock’s previous close.
Shares of Intel (NASDAQ:INTC) traded up 7.19% on Friday, hitting $29.9701. 77,536,600 shares of the company’s stock traded hands. Intel has a 52 week low of $21.89 and a 52 week high of $28.42. The stock has a 50-day moving average of $26.76 and a 200-day moving average of $25.55. The company has a market cap of $149.2 billion and a P/E ratio of 14.96. Intel also was the recipient of a large decrease in short interest in May. As of May 30th, there was short interest totalling 170,211,540 shares, a decrease of 4.2% from the May 15th total of 177,732,864 shares. Based on an average trading volume of 24,560,599 shares, the short-interest ratio is currently 6.9 days. Currently, 3.4% of the company’s shares are short sold.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.81 billion. During the same quarter last year, the company posted $0.40 earnings per share. Intel’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that Intel will post $1.89 EPS for the current fiscal year.
A number of other firms have also recently commented on INTC. Analysts at JPMorgan Chase & Co. raised their price target on shares of Intel from $30.00 to $31.00 in a research note on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Intel from $30.00 to $35.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley upgraded shares of Intel from an “underweight” rating to an “equal weight” rating in a research note on Friday. They now have a $28.00 price target on the stock, up previously from $24.00. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $29.18.
In other Intel news, President Renee Jo James sold 79,190 shares of Intel stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $27.50, for a total value of $2,177,725.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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