Citigroup Inc. reissued their neutral rating on shares of Intel Corp. (NASDAQ:INTC) in a research report sent to investors on Friday morning, Analyst Ratings News reports. The firm currently has a $28.00 price target on the stock, up from their previous price target of $24.00.
“On mid- to high-single digit declines in PCCG offset by mid-teens increases in DCG, Intel expects 2014 sales to be ~flat with 2013 levels; this implies ~$52.6B, slightly below consensus of $53.7B, assuming Intel reaches the mid-point of its 4Q13 guidance. Gross margin is also expected to be flat as reduced start-up charges are offset by lower Other IA GM’s (due to aggressive tablet pricing); consensus models a 70bps increase. Not surprising then, operating income is also expected to be flattish y/y.,” the firm’s analyst wrote.
Shares of Intel Corp. (NASDAQ:INTC) traded down 1.13% during mid-day trading on Friday, hitting $23.60. 17,084,044 shares of the company’s stock traded hands. Intel Corp. has a 1-year low of $19.42 and a 1-year high of $25.98. The stock’s 50-day moving average is $23.94 and its 200-day moving average is $23.6. The company has a market cap of $117.3 billion and a P/E ratio of 12.91. Intel Corp. also saw unusually large options trading activity on Friday. Investors purchased 151,102 put options on the stock. This represents an increase of 514% compared to the typical volume of 24,590 put options.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Tuesday, October 15th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.04. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same quarter last year, the company posted $0.58 earnings per share. Intel Corp.’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Intel Corp. will post $1.89 earnings per share for the current fiscal year.
A number of other firms have also recently commented on INTC. Analysts at Jefferies Group reiterated a buy rating on shares of Intel Corp. in a research note to investors on Friday. They now have a $32.00 price target on the stock, up previously from $30.00. Separately, analysts at Zacks reiterated a neutral rating on shares of Intel Corp. in a research note to investors on Wednesday, November 20th. They now have a $26.00 price target on the stock. Finally, analysts at Credit Suisse reiterated a neutral rating on shares of Intel Corp. in a research note to investors on Tuesday, November 19th. They now have a $20.00 price target on the stock, down previously from $30.00. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $24.44.
Intel Corporation designs and manufactures integrated digital technology platforms. A platform consists of a microprocessor and chipset.
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