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Investment analysts at Goldman Sachs increased their price target on shares of Intel (NASDAQ:INTC) from $18.00 to $20.00 in a note issued to investors on Wednesday. The firm currently has a “sell” rating on the stock. Goldman Sachs’ price target indicates a potential downside of 36.93% from the company’s current price.

Intel (NASDAQ:INTC) opened at 33.76 on Wednesday. Intel has a 52 week low of $21.89 and a 52 week high of $31.80. The stock has a 50-day moving average of $29.54 and a 200-day moving average of $26.56. The company has a market cap of $168.1 billion and a P/E ratio of 16.97. Intel also saw a large drop in short interest in June. As of June 30th, there was short interest totalling 174,354,201 shares, a drop of 4.6% from the June 13th total of 182,825,092 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 33,611,053 shares, the short-interest ratio is currently 5.2 days.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.03. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $13.68 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts predict that Intel will post $2.03 earnings per share for the current fiscal year.

A number of other firms have also recently commented on INTC. Analysts at Drexel Hamilton raised their price target on shares of Intel from $40.00 to $50.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray raised their price target on shares of Intel to $37.00 in a research note on Wednesday. Finally, analysts at Susquehanna raised their price target on shares of Intel from $27.00 to $30.00 in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $32.71.

Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.

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