Intel Corporation (NASDAQ: INTC) Stocks: 52-week High and Counting

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By Ross Schwartz on November 3, 2014 Market

The reinvention of old tech companies has rendered them to be almost completely new. Their stocks have outperformed those of the Web 2.0 firms even which may be partly due to a rush up in the National Association of Securities Dealer Automated Quotation (NASDAQ). Ultimately, however, public corporations like Intel Corporation (NASDAQ: INTC), Microsoft Corporation (NASDAQ:MSFT), and Cisco Systems, Inc. (NASDAQ: CSCO)’s performances are attributed to their bold decisions for considerable makeovers.

Intel Corporation (NASDAQ: INTC) has been a household name for their domination over the PC chips market. Currently, their stocks is one of those who have bounced back the most. Just this last October, short interest in the stock has increased. As of October 15^th, there was a total of 137,168,101 shares of short interest which is an increase of 10.5% from the September 30^th’s total of 124,186,118 shares. Around 2.8% of the company’s stock is sold short. Its shares traded at $34 (last week) and is towards a 52-week high of $35.56.

The chipmaker released its latest quarterly results last October 14^th. Earnings per share came in at $0.66 which is $0.02 more than the consensus analyst estimate of $0.64. Revenue came in at $14.06 billion in the last quarter. While it is $0.39 less compared to the consensus estimate of $14.45 billion, it is important to note that their revenue shows a 7.9% increase compared to the corresponding quarter in 2013.

Analysts from the Pacific Crest gave their stock an “Outperform” rating. From $37, they raised their price target to $39. Barclays analysts maintained an “Equal Weight” rating on their stock with a $2 price target increase from $30 to $32. Lastly, FBR Capital Market analysts also assigned their stock an “Outperform” rating and increased their price target to $36 from $35. All of these were published in a research note dated October 15^th. Covered by several analysts, Intel Corporation (NASDAQ: INTC) has an overall consensus rating of “Hold” and a $34.46 average price target.

Intel Corporation (NASDAQ: INTC) shares went up by 1.63% at $33.74 last October 29, and their year to date shares increased over 30%.

During this period, Intel Corporation (NASDAQ: INTC) claims that they have shipped more than 100 million microprocessors in a quarter for the first time. The company entered the tablets and phones niche late according to investors. In reality, it was even thought that Intel Corporation (NASDAQ: INTC) will never be able to cope with the hardware products that power new devices.

Their recovery cannot be attributed to just new devices. The company’s oldest operations have actually did the best. Their PC Client Group’s revenue for the quarter that ended last year was at $8.4 billion which went up to $9.2 billion in the most recent quarter. The division’s operating income went up from $3.2 billion to $4.1 billion. If not remarkable, how else can one describe that margin?

The company has already made its precense in the new technological advancement called “Internet of Things” which catapulted them for a rebound. However, ultimately, their success is due to the reinventions they made to their products.