Hansen, Mueller Industries director, sells $105,710 in stock
Investing.com - Truist Securities raised its price target on Intel (NASDAQ:INTC) to $39.00 from $21.00 on Friday, while maintaining a Hold rating on the semiconductor company’s stock. The new target sits close to Intel’s current trading price of $38.82 and near its 52-week high of $39.65, following an impressive 84.59% gain year-to-date.
The price target increase follows Intel’s third-quarter results, which showed solid upside versus expectations in its Client Computing Group (CCG) and Data Center and AI (DCAI) segments, with improvements in revenues, margins, and earnings per share. According to InvestingPro, Intel maintains a substantial market presence with $53.07B in revenue, though profitability remains a challenge with negative earnings per share over the last twelve months.
Intel guided fourth-quarter results nominally below consensus, but Truist noted that after adjusting for the Altera de-consolidation, guidance is actually modestly above consensus expectations.
Truist highlighted several positive developments for Intel, including better demand, improving execution, incrementally better foundry datapoints, and a clearer AI strategy coming into view.
Despite these improvements, Truist maintained its Hold rating, citing challenges in viewing Intel optimistically given the recent stock run-up, along with "the high number of moving parts and wide potential outcomes" in Intel’s business.
In other recent news, Intel has reported strong third-quarter results with revenue of $13.65 billion and earnings per share of $0.23, surpassing consensus estimates of $13.15 billion and $0.01, respectively. This marks the company’s first return to profitability after six consecutive quarters of GAAP losses. The positive financial performance was attributed to robust demand in both the client and datacenter segments, particularly driven by Windows end-of-life upgrades and PC refresh cycles. Additionally, several analyst firms have adjusted their price targets for Intel, reflecting the company’s recent achievements. Benchmark raised its price target to $50, citing Intel’s strong September performance and consistent results exceeding guidance. TD Cowen increased its target to $38, highlighting a "clean set of results and guidance." Bernstein also raised its target to $35, acknowledging the company’s Q3 beat. Furthermore, Rosenblatt and Baird have both adjusted their targets to $25 and $40, respectively, with Rosenblatt noting Intel’s solid progress and Baird emphasizing advancements in the 14A process technology. These developments underscore Intel’s ongoing recovery and strategic advancements in the semiconductor industry.
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