Dallas, Texas 08/21/2013 (Financialstrend) – Shares of Intel Corporation (NASDAQ:INTC) had recently been downgraded by the analysts at Baird and had set up a price target of $23 per share for the stock. The analysts had commented that the seasonal demand which had turned out weaker than the expectations proves to take a big stake on the company’s performance. The demand in the semiconductor industry is expected to be lower than the expectations and further the sales of PC units are expected to post declines in the teens for this fiscal year. The rating to the stock had been lowered to neutral by the analysts at Baird.
The new price target for the shares of Intel Corporation (NASDAQ:INTC) had been fixed up based on the 12 to 13 times multiple of the Price equity ratio of the company. Further the earnings per share estimates for the company had also been reduced to around $1.85 per share for the fiscal year. The analysts had made a note of several risks that the company might face in the recent months. Such mentioned risks include declined prices in the industry, declining sales in the PC markets and cannibalization of net books by the tablets.
Intel Corporation (NASDAQ:INTC) had moved up on Tuesday in the markets to make gains of around 1.09% in share prices and had thereby closed at $22.52 per share. The stock had been presenting intraday price fluctuations ranging from low of $22.30 to high of $22.68 per share for the day. The company’s stock had on Tuesday reported volume of trading in the markets at 32.08 million shares, while the shares on an average had moved to record trading volumes at 41.58 million shares per day. The stock presently has 52 week low of $19.23 and 52 week high of $26.34 per share.