An interesting stock that came up in some of our conversations today is Intel Corporation (NASDAQ:INTC). At current price of $49.78, the shares have already added 1.18 points (2.43% higher) from its previous close of $48.6. Should you buy or avoid them? The stock sets an active trading volume day with a reported 10187984 contracts so far this session. INTC shares had a relatively better volume day versus average trading capacity of 24.52 million shares, but with a 4.45 billion float and a 0.16% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for INTC stock indicates that the average analyst price target is $51.82 per share. This means the stock has a potential increase of 4.1% from where the INTC share price has been trading recently which is between $48.31 and $48.78. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $37.5.
The shorts are running away from Intel Corporation (INTC) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a drop in short interest in INTC shares. While short interest still represents only 1.26% of INTC’s float, the number of shares shorted have fallen by -63252. The number of shares shorted fell to 55922386 shares, down from 55985638 shares during the preceding fortnight. With average daily trading volumes at 20929297 shares, days to cover decreased to about 2.721169 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Tech earnings are a test amid tumultuous times, and all the chips are on the table” and dated July 12, 2019.
During the recent trading session for Intel Corporation (NASDAQ:INTC), the company witnessed their stock rise $1.61 over a week and surge $2.99 from the price 20 days ago. When compared to their established 52-week high of $59.59, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/17/19. The recent low of $42.36 stood for a -16.46% since 10/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.83 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Intel Corporation, the two-week RSI stands at 67.95. This figure suggests that INTC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current INTC readings is similarly very revealing as it has a stochastic reading of 73.14% at this stage. This figure means that INTC share price today is being oversold.
Technical chart claims that Intel Corporation (INTC) would settle between $48.82/share to $49.03/share level. However, if the stock price goes below the $48.35 mark, then the market for Intel Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $48.09 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.52. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Wedbush, assumed coverage of INTC assigning Underperform rating, according to their opinion released on June 27. RBC Capital Mkts, analysts launched coverage of Intel Corporation (NASDAQ:INTC) stock with a Underperform recommendation, according to their flash note issued to investors on May 13. Analysts at BMO Capital Markets lowered the stock to a Market Perform call from its previous Outperform recommendation, in a research note that dated back to May 09.
INTC equity has an average rating of 2.85, with the figure leaning towards a bullish end. 40 analysts who tracked the company were contacted by Reuters. Amongst them, 17 rated the stock as a hold while the remaining 23 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 13 analysts rated Intel Corporation (NASDAQ:INTC) as a buy or a strong buy while 10 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, INTC stock price is currently trading at 10.88X forward 12-month Consensus EPS estimates, and its P/S ratio is 3.05 while for the average stock in the same group, the multiple is 8.3. Intel Corporation current P/E ratio of 11.05 means it is trading at a premium against its industry’s 8.48. In the past 5 years, this ratio for the stock has been fluctuating between 10.59 and 17.14.
Intel Corporation (INTC)’s current-quarter revenues are projected to climb by nearly -8.02% to hit $15.6 billion, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -3.3% from $70.85 billion to a noteworthy $68.51 billion. At the other end of the current quarter income statement, Intel Corporation is expected to see its adjusted earnings surge by roughly -15.38% to hit $0.88 per share. For the fiscal year, INTC’s earnings are projected to climb by roughly -7.64% to hit $4.23 per share.