What Analysts Think of Intel Stock Ahead of Earnings
Key Takeaways
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.
Analysts Speculate Broadcom Might Buy Intel
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.