During the same quarter previous year, the company posted $0.38 earnings per share.
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Piper Jaffray analysts just reiterated the Intel Corporation (NASDAQ:INTC) stock as an overweight rate with a target price amounting to $38 even with the underperforming market for PCs. Analysts are estimating that INTC will report earnings per share of $0.58 next quarter. The consensus price target on the stock for the 12 month period amounts to $34.93. The stock has a 50-day moving average of $32.08 and a 200-day moving average of $33.15. Intel Corporation (NASDAQ:INTC) has underperformed the index by 3.29% in the last 4 weeks.
The shares opened for trading at $30.18 and hit $30.92 on the upside, eventually ending the session at $30.555, with a gain of 1.24% or 0.375 points. They also think that Intel Corporation (NASDAQ:INTC) is working its way to lower the losses in its mobile segment by as much as $800 million in the current year.
Company shares have received an average consensus rating of Hold for the current week The company has received recommendation from many analysts. The stock was sold at an average price of $32.61, for a total value of $6,572,447.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. As a rule of thumb, a stock with a PEG of between 0 and 1 is usually considered to be underpriced, between 1 and 2 to be at fair value and over 2 to be overpriced. The disclosure for this sale can be found here.
Other equities research analysts have also recently issued reports about the stock.
From the 49 analysts who polled at Bloomberg, 23 gave Intel Corporation (NASDAQ:INTC) stock a Buy rating, 19 gave it a Hold rating and the rest gave the stock a Sell rating. Citigroup Inc. reiterated this stock to a Hold rating on Thursday, 2 of July and FBR & Co. analysts reiterated it to a Buy the same day. Finally, analysts at Bank of America reiterated a “buy” rating on shares of Intel in a research note on Tuesday. 8 analysts have rated the company as a strong buy. The stock now has a consensus rating of “Buy” and an average target price of $36.00.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms. The chipmaker said the lower sequential revenue guidance is “primarily due to weaker than expected consumer PC demand impacting the company’s Original Equipment Manufacturer (OEM) APU sales”. A platform consists of a microprocessor and chipset. The Company also develops and sells software and services primarily focused on security and technology integration. The Santa Clara, CA-based company produces processors for desktops, laptops, tablets, and smartphones.
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To view Summit Research’s full report, visit Summit Research’s official website.
