Intel Given New $35.00 Price Target at Credit Suisse (INTC)
Investment analysts at Credit Suisse increased their target price on shares of Intel (NASDAQ:INTC) from $30.00 to $35.00 in a note issued to investors on Friday. Credit Suisse’s price target suggests a potential upside of 25.18% from the company’s current price.
In other Intel news, President Renee Jo James sold 79,190 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $27.50, for a total value of $2,177,725.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Intel (NASDAQ:INTC) traded up 7.12% on Friday, hitting $29.95. 84,622,640 shares of the company’s stock traded hands. 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 $149.1 billion and a P/E ratio of 14.96. Intel also was the target of a significant 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 shares of the company are short sold. Based on an average daily volume of 24,560,599 shares, the short-interest 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. On average, analysts predict that Intel will post $1.89 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Intel from $28.00 to $31.00 in a research note on Friday. They now have a “sector perform” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Intel from $35.00 to $40.00 in a research note on Friday. Finally, analysts at Canaccord Genuity initiated coverage on shares of Intel in a research note on Tuesday. They set a “hold” rating and a $29.00 price target on the stock. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.18.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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