RBC Capital Increases Intel Price Target to $31.00 (INTC)
Analysts at RBC Capital upped their target price on shares of Intel (NASDAQ:INTC) from $28.00 to $31.00 in a research report issued to clients and investors on Friday. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective indicates a potential upside of 10.87% from the stock’s previous close.
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 stock was sold at an average price of $27.50, for a total transaction of $2,177,725.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Intel from $35.00 to $40.00 in a research note on Friday. Separately, 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. Finally, analysts at Topeka Capital Markets reiterated a “buy” rating on shares of Intel in a research note on Thursday, June 5th. They now have a $30.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $29.18.
Shares of Intel (NASDAQ:INTC) traded up 7.14% on Friday, hitting $29.955. 84,623,648 shares of the company’s stock traded hands. Intel has a one year low of $21.89 and a one year 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 $149.1 billion and a P/E ratio of 14.96. Intel also was the target of a large decline in short interest during the month of 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. Currently, 3.4% of the shares of the company are short sold. 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 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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