Shares of Intel Corporation (NASDAQ:INTC) traded at a new 52-week high today of $67.71. So far today approximately 7.9 million shares have been exchanged, as compared to an average 30-day volume of 32.5 million shares.
Intel is one of the world’s largest chipmakers. It designs and manufactures microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors. It was the prime proponent of Moore’s law for advances in semiconductor manufacturing, though the firm has recently faced manufacturing delays. While Intel’s server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has declined. These include areas such as the Internet of Things, memory, artificial intelligence, and automotive. Intel has been active on the merger and acquisitions front, acquiring Altera, Mobileye, Movidius, and Habana Labs in order to assist its efforts in non-PC arenas.
Based on a current price of $67.58, Intel Corporation is currently 2.0% above its average consensus analyst price target of $66.20.
Over the past year, Intel Corporation has traded in a range of $43.61 to $67.71 and is now at $67.58, 55% above that low.
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