Intel Sees Large Decline in Short Interest (INTC)
Shares of Intel (NASDAQ:INTC) were the target of a significant drop in short interest in August. As of August 15th, there was short interest totalling 125,669,617 shares, a drop of 7.2% from the July 31st total of 135,371,781 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 31,379,142 shares, the short-interest ratio is presently 4.0 days. Currently, 2.5% of the shares of the stock are sold short.
A number of research firms have recently commented on INTC. Analysts at JPMorgan Chase & Co. raised their price target on shares of Intel from $32.00 to $37.00 in a research note on Friday, August 8th. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Intel in a research note on Tuesday, August 5th. They now have a $41.00 price target on the stock. Finally, 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. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.57.
Intel (NASDAQ:INTC) opened at 34.92 on Tuesday. Intel has a 1-year low of $21.97 and a 1-year high of $35.20. The stock has a 50-day moving average of $33.87 and a 200-day moving average of $28.62. The company has a market cap of $172.9 billion and a P/E ratio of 17.16.
Intel (NASDAQ:INTC) last announced its earnings results 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. Analysts expect that Intel will post $2.18 EPS for the current fiscal year.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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