Intel Upgraded to Buy by Roth Capital (INTC)
Intel (NASDAQ:INTC) was upgraded by Roth Capital from a “neutral” rating to a “buy” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $35.00 price objective on the stock, up from their previous price objective of $28.00. Roth Capital’s price objective would indicate 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 Intel stock on the open market in a transaction that occurred on 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 filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on INTC. Analysts at Canaccord Genuity raised their price target on shares of Intel from $29.00 to $31.00 in a research note on Friday. They now have an “underweight” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Intel from $30.00 to $35.00 in a research note on Friday. Finally, 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. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $29.18.
Shares of Intel (NASDAQ:INTC) traded up 7.22% during mid-day trading on Friday, hitting $29.98. 84,543,456 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 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 $149.2 billion and a P/E ratio of 14.96. Intel also saw a large 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 shares 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 announced its earnings results 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.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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