Intel Price Target Increased to $34.00 by Analysts at Topeka Capital Markets (INTC)
Analysts at Topeka Capital Markets increased their price target on shares of Intel (NASDAQ:INTC) from $30.00 to $34.00 in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the stock. Topeka Capital Markets’ price objective would suggest a potential upside of 21.60% from the company’s current price.
A number of other analysts have also recently weighed in on INTC. Analysts at Drexel Hamilton upgraded shares of Intel from a “hold” rating to a “buy” rating in a research note on Friday. Separately, analysts at Piper Jaffray raised their price target on shares of Intel to $31.00 in a research note on Friday. Finally, 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. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $29.06.
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 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 $139.2 billion and a P/E ratio of 14.94. Intel also was the recipient of a large decline in short interest in May. As of May 30th, there was short interest totalling 170,211,540 shares, a decline of 4.2% from the May 15th total of 177,732,864 shares. Based on an average daily volume of 24,560,599 shares, the days-to-cover ratio is presently 6.9 days. Currently, 3.4% of the company’s stock are short sold.
Intel (NASDAQ:INTC) last posted its quarterly 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 company’s stock on the open market 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 legal filing with the Securities & Exchange Commission, which is available at this link.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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