Intel Given New $31.00 Price Target at Piper Jaffray (INTC)
Equities research analysts at Piper Jaffray hoisted their price target on shares of Intel (NASDAQ:INTC) to $31.00 in a research note issued to investors on Friday. Piper Jaffray’s price target suggests a potential upside of 10.87% from the stock’s previous close.
In other Intel news, President Renee Jo James unloaded 79,190 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Intel (NASDAQ:INTC) opened at 27.96 on Friday. Intel has a 1-year low of $21.89 and a 1-year 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 price-to-earnings ratio of 14.96. Intel also was the recipient of a significant 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. Currently, 3.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 24,560,599 shares, the days-to-cover ratio is currently 6.9 days.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. 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 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. Separately, 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. Finally, analysts at Robert W. Baird raised their price target on shares of Intel from $26.00 to $29.00 in a research note on Friday. They now have a “neutral” rating on the stock. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $29.06.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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