Intel Corporation (NASDAQ:INTC) is reportedly looking to increase its presence in Seattle. The report claims that Intel (INTC) is planning to lease two floors in the neighboring 705 Union Station building. The company’s spokeswoman Suzy Greenberg responded via an email in which she wrote that the company did not have anything openly to say on the report at this time.[article_detail_ad_1]
Another spokesman Rick Meeder said that there are about 1,000 Intel workers in Washington and of those 900 are at the DuPont Development Center in Pierce County. The remaining workers are performing their duties in Bellevue in a leased building called RidgePoint.
Cushman & Wakefield|Commerce, which tracks leasing activity, revealed that Intel (NASDAQ:INTC) leases roughly 8,000 square feet at RidgePoint. The company renewed the lease in start of 2011 for four years, meaning the term would end in 2015.
Make an opinion on the latest price movement using some technical indicators
The INTC stock closed at $20.96, up 0.39 points or 1.90% from previous close and at a distance of +4.66% from 20-day simple moving average. In the last trading session, the stock’s price moved -14.43% below its 200 day moving average, changing hands as low as $20.57 per share. The stock is currently trading 0.69% up its SMA 50.
How well the stock has been performing?
The percentage change in the price over the past fifty two weeks remained at -11.49%. The price range in the same period had a highest hit of $29.27 on May 03, 2012 while lowest level during that period was $19.23 on Nov 21, 2012. The 1-year target price estimate, which is the median price target, as set by analysts covering the stock is $23.00. The stock in last 12 months lost -6.97% and has declined -10.58% since the beginning of this year.
Does stock market trend influences this stock?
This stock is more risky when compared to the shifts in the equity markets as its beta value is standing at 1.08. To measure price-variation, we found this stock’s volatility over a week period was 2.02% and for the month was 2.04%.
What is Wall Street analysts’ recommendation on this stock?
The analyst mean recommendation for this week has been changed to 2.7 from 2.6 in the last week. The price target of $16.00 was the lowest while the highest price target was set as $32.00, according to 37 analysts surveyed by Thomson Reuters.