Robert W. Baird Increases Intel Price Target to $29.00 (INTC)
Robert W. Baird lifted their target price on shares of Intel (NASDAQ:INTC) from $26.00 to $29.00 in a research note issued on Friday. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 3.72% from the company’s current price.
In other Intel news, President Renee Jo James unloaded 79,190 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Intel (NASDAQ:INTC) traded up 7.21% during mid-day trading on Friday, hitting $29.975. 77,536,328 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 $149.2 billion and a price-to-earnings ratio of 14.96. Intel also saw a large decrease in short interest in 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. Based on an average trading volume of 24,560,599 shares, the days-to-cover ratio is presently 6.9 days. Currently, 3.4% of the company’s shares are short sold.
Intel (NASDAQ:INTC) last issued its quarterly earnings data 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.
A number of other firms have also recently commented on INTC. Analysts at Barclays raised their price target on shares of Intel from $24.00 to $26.00 in a research note on Friday. They now have an “equal weight” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Intel from $30.00 to $31.00 in a research note on Friday. They now have an “overweight” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Intel from $30.00 to $35.00 in a research note on Friday. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock 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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