Intel’s Buy Rating Reaffirmed at S&P Equity Research (INTC)
Shares of Intel (NASDAQ:INTC) traded down 0.07% on Wednesday, hitting $29.93. 34,412,300 shares of the company’s stock traded hands. Intel has a 52-week low of $21.89 and a 52-week high of $30.15. The stock has a 50-day moving average of $27.06 and a 200-day moving average of $25.70. The company has a market cap of $149.0 billion and a price-to-earnings ratio of 16.02. Intel also saw 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 trading volume of 24,560,599 shares, the short-interest ratio is currently 6.9 days. Approximately 3.4% of the company’s stock are sold short.
Intel (NASDAQ:INTC) last released its 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. Analysts expect that Intel will post $2.02 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets raised their price target on shares of Intel from $31.00 to $33.00 in a research note on Friday, June 13th. They now have an “outperform” rating on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Intel in a research note on Friday, June 13th. They now have a $27.00 price target on the stock, up previously from $25.00. Finally, analysts at Maxim Group raised their price target on shares of Intel from $27.00 to $30.00 in a research note on Friday, June 13th. They now have a “hold” rating on the stock. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Intel presently has a consensus rating of “Hold” and an average target price of $29.24.
In other Intel news, President Renee Jo James sold 80,645 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $29.75, for a total transaction of $2,399,188.75. The transaction was disclosed in a document filed 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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