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Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Intel (INTC – Research Report) yesterday and set a price target of $72.00. The company’s shares closed last Thursday at $62.57.
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 27.2% and a 68.9% success rate. Rakesh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Allegro MicroSystems, and NXP Semiconductors.
The word on The Street in general, suggests a Hold analyst consensus rating for Intel with a $67.52 average price target, representing a 6.6% upside. In a report issued on April 7, Credit Suisse also maintained a Buy rating on the stock with a $80.00 price target.
Intel CEO Pat Gelsinger’s First Fiscal Quarter: ‘Intel Is Back’
‘We’re firing on all cylinders. Our best days are ahead of us. We’re investing for the future. We’re executing. And we’re just getting started,” the Intel CEO says in his first quarterly financial analyst call. By Joseph F. Kovar April 23, 2021, 11:06 AM EDT
Pat Gelsinger, in his first quarterly financial analyst conference call since becoming Intel CEO, said Thursday that Intel not only delivered a strong fiscal first quarter 2021, but has laid the groundwork for expansion across the board from PC and server processors to harnessing its new IDM 2.0 strategy with partners including cloud developers.
Priti Ramgarhia- April 20, 2021, 11:30 AM EDT SHARE ON:
Intel Corporation (
INTC) is scheduled to report first-quarter 2021 earnings on April 22 after the market closes. Over the past six months, shares of the tech giant have jumped 19% and are currently trading at over $63. A strong print could send shares on an upward trajectory, so letâs take a closer look at what analysts on the Street are expecting.
Earnings Preview
Intel is expected to report adjusted EPS of $1.15 on revenues of $17.88 billion, while the company guided for earnings of $1.10 per share and adjusted revenues of $17.5 billion.
Meanwhile, the Earnings Whisper number, or the Streetâs unofficial view on earnings, stands at $1.30 per share.
PC market soars, driving Intel s revenue and profits unexpectedly higher
Tech giant expects PC market to grow further, but just more slowly Credit: Dreamstime
Outgoing Intel CEO Bob Swan previously told PCWorld that he was worried that, when the pandemic hit, PC sales would drop off a cliff. As Intel’s fourth-quarter earnings revealed, the exact opposite occurred.
Intel reported $5.9 billion in profits and $20 billion in revenue for the fourth quarter of 2020, with profits down by 15 per cent and revenue essentially flat. But those numbers far exceeded analyst expectations, and the PC was primarily the cause.
“Fourth-quarter revenue exceeded prior expectations by $2.6 billion driven by record PC-centric revenue, with PC unit volumes up 33 per cent year-over-year led by record notebook sales,” Intel said in a statement in advance of a conference call with analysts on Thursday afternoon. In a related presentation for Wall Street analysts, Intel broke down the PC