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Intel is set to report fourth-quarter results after the market closes Thursday.
Nearly all the analysts following Intel who are tracked by Visible Alpha have a «hold» rating for the stock and the consensus price target implies some upside.
Intel has been the subject of recent takeover rumors after an anonymously sourced report on such a bid was published by a technology news site earlier this month.
Intel (INTC) is expected to report fourth-quarter results after the market closes Thursday, with analysts expecting the chipmaker to swing to a loss.
Of the 13 analysts covering the stock who are tracked by Visible Alpha, 12 have issued “hold” or equivalent ratings, with one giving the stock a “sell” rating. Their consensus price target of about $24 would suggest a 15% upside from Monday’s closing price of $20.29.
The chipmaker is expected to report fourth-quarter revenue of $13.8 billion, down 10% year-over-year, and a net loss of $710 million, or 14 cents per share, compared with earnings of $2.66 billion, or 63 cents per share, a year ago.
The results come as Intel has been the subject of recent takeover speculation, based on an anonymously sourced report from tech news site SemiAccurate earlier this month. Citi analysts said at the time they see Broadcom (AVGO) as “the most likely company” to be interested in buying Intel, adding that the rival chipmaker might sell Intel’s struggling foundry business. Additionally, the fourth-quarter results will be the company’s first since Intel Chief Executive Officer (CEO) Pat Gelsinger stepped down last month.
Intel’s market capitalization currently is more than $87 billion, but the stock has lost more than half its value over the past 12 months. Shares of the company finished off more than 2.5% in Monday trading.
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