Recent short interest data for the 10/31/2014 settlement date shows an increase in short interest for shares of Intel Corporation (INTC). As of October 31, the chip maker’s short interest totaled 204,406,909 shares, as compared to 137,168,101 shares since October 15, a jump of 49.02%. Average daily volume [AVM] for the same period fell by 11,095,239 to 33,647,726 shares from 44,742,965 shares.
Based on the latest AVM, the days-to-cover ratio — a metric that includes both the total shares short and the average daily volume of shares traded — is currently 6.07 days. Days-to-cover for INTC increased to 6.07 for the October 31 settlement date, as compared to 3.07 days at the October 15 report.
Recently, a number of Wall Street firms have assigned a rating to the stock. Analysts at Bernstein downgraded the stock with a ‘Underperform’ rating and a $30 price target in a research note on November 4th. Morgan Stanley (MS) analysts also downgraded the stock, assigning an ‘Underweight’ from ‘Equal-weight’ rating and $30 price target in a research note to clients on October 15th. Finally, analysts at Pacific Crest maintained their ‘Outperform’ rating and $39 price target in a research note on October 15th. Overall, there are 13 analysts that rate Intel a ‘Buy’, while 20 rate it a ‘Hold’. No analyst rates it a ‘Sell’. Intel has a median Wall Street price target of $30 with a high target of $50.
Intel Corporation has a beta of 0.85 and a short float of 4.23%. In the past 52 weeks, shares of Santa Clara, California-based company have traded between a low of $23.40 and a high of $35.56 and are now at $33.36. Shares are up 42.17% year-over-year, and 32.39% year-to-date.