Intel Price Target Raised to $37.00 at JPMorgan Chase & Co. (INTC)
Investment analysts at JPMorgan Chase & Co. lifted their price objective on shares of Intel (NASDAQ:INTC) from $32.00 to $37.00 in a note issued to investors on Friday. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 13.50% from the company’s current price.
Shares of Intel (NASDAQ:INTC) traded down 0.24% on Friday, hitting $32.60. The stock had a trading volume of 35,489,572 shares. Intel has a 1-year low of $21.89 and a 1-year high of $34.83. The stock’s 50-day moving average is $32.37 and its 200-day moving average is $27.57. The company has a market cap of $161.4 billion and a P/E ratio of 16.19. Intel also was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 89,148 put options on the stock. This represents an increase of approximately 156% compared to the typical daily volume of 34,804 put options.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.39 earnings per share. Intel’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that Intel will post $2.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 1st. Investors of record on Thursday, August 7th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Tuesday, August 5th.
A number of other firms have also recently commented on INTC. Analysts at Zacks reiterated an “outperform” rating on shares of Intel in a research note on Tuesday. They now have a $41.00 price target on the stock. Separately, analysts at Bernstein raised their price target on shares of Intel from $28.00 to $31.00 in a research note on Wednesday, July 16th. Finally, analysts at Wedbush raised their price target on shares of Intel from $30.00 to $34.00 in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Intel currently has an average rating of “Hold” and a consensus target price of $33.42.
In other Intel news, President Renee Jo James sold 2,059 shares of Intel stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $34.15, for a total transaction of $70,314.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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