Intel PT Raised to $31.00 (INTC)
Research analysts at Canaccord Genuity boosted their price objective on shares of Intel (NASDAQ:INTC) from $29.00 to $31.00 in a report released on Friday. The firm currently has an “underweight” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 10.87% from the stock’s previous close.
Intel (NASDAQ:INTC) traded up 7.22% on Friday, hitting $29.98. 84,543,856 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’s 50-day moving average is $26.76 and its 200-day moving average is $25.55. The company has a market cap of $149.2 billion and a P/E ratio of 14.96. Intel also was the recipient of a significant drop in short interest in May. As of May 30th, there was short interest totalling 170,211,540 shares, a drop of 4.2% from the May 15th total of 177,732,864 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average 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 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. On average, analysts predict that Intel will post $1.89 earnings per share for the current fiscal year.
In other Intel news, President Renee Jo James sold 79,190 shares of the stock on the open market in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $27.50, for a total transaction of $2,177,725.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on INTC. Analysts at Credit Suisse raised their price target on shares of Intel from $30.00 to $35.00 in a research note on Friday. Separately, 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. Finally, analysts at Jefferies Group raised their price target on shares of Intel from $35.00 to $40.00 in a research note on Friday. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.18.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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