On Feb. 15, Intel announced a deal to buy Israel-based chip foundry Tower Semiconductor for $5.4 billion in cash. In 2021, Samsung overtook Intel to become the world’s No. 1 semiconductor vendor by revenue, INTC stock forecast research firm Gartner said. Last year, Intel had the slowest growth rate among the top 25 vendors at just 0.5%. Here’s what David Zinsner, executive vice president and CFO at Intel, said during the event.
Finally, Wedbush reiterated an “underperform” rating and issued a $45.00 price target on shares of Intel in a research report on Thursday, April 21st. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Intel presently has an average rating of “Hold” and an average price target of $53.15. Intel is a dominant player for microprocessors in both consumer and enterprise markets. Data Center Group, Internet of Things Group, Mobileye, Non-Volatile memory solutions group and Programmable solutions Group and All Other business units form the crux of Intel’s data-centric business model. DCG segment deals with servers, workstations and other products for cloud, enterprise, and communication infrastructure market.
Intel Analyst Data
The next potential catalyst for Forex could be the company’s analyst day event on Feb. 17. Intel also likely will update its technology and manufacturing initiatives. For the current quarter, Intel forecast adjusted earnings of 80 cents a share on sales of $18.3 billion. Analysts were looking for Intel earnings of 86 cents on sales of $17.61 billion for Q1, FactSet said. Late on Jan. 26, Intel beat Wall Street’s targets for the fourth quarter but gave a mixed outlook for the current period.
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