Drexel Hamilton Upgrades Intel to “Buy” (INTC)
Intel (NASDAQ:INTC) was upgraded by investment analysts at Drexel Hamilton from a “hold” rating to a “buy” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
Shares of Intel (NASDAQ:INTC) opened at 27.96 on Friday. Intel has a 52 week low of $21.89 and a 52 week high of $28.42. The stock’s 50-day moving average is $26.76 and its 200-day moving average is $25.55. The company has a market cap of $139.2 billion and a P/E ratio of 14.94. Intel also saw a large decrease in short interest during the month of 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. Approximately 3.4% of the company’s stock are sold short. Based on an average daily trading volume, of 24,560,599 shares, the days-to-cover ratio is presently 6.9 days.
Intel (NASDAQ:INTC) last announced its earnings results on Tuesday, April 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that Intel will post $1.89 EPS for the current fiscal year.
In other Intel news, President Renee Jo James sold 79,190 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $27.50, for a total value of $2,177,725.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
INTC has been the subject of a number of other recent research reports. Analysts at Piper Jaffray raised their price target on shares of Intel to $31.00 in a research note on Friday. Separately, analysts at Stifel raised their price target on shares of Intel from $30.00 to $31.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Intel from $30.00 to $32.00 in a research note on Friday. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $29.06.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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