Deal News and Rumors Are Pushing Intel Stock Higher to Start the Year | Global News Avenue

Intel shareholders might prefer Forget 2024. This year is off to a much better start.

The chipmaker’s shares rose today with the wider marketgiving them a gain of more than 8% in January, outpacing the S&P 500. That doesn’t change the situation in the rearview mirror – Intel (international trade center) is still down more than 50% over the past 12 months, but signs of life are still noticeable.

Investors may be buying signs of change as CEO Pat Gelsinger retires end of last year. One of the developments helped boost the stock this week: news that the company plans to turn its venture fund into a separate entity, with the company remaining an investor.

Interim co-chief executive David Zinser said of the decision: “This move supports our broader strategy to maximize the value of our assets while increasing focus and efficiency across the business.”

Meanwhile, a Tech News report circulated through news organizations suggesting Intel could be a takeover target. Currently, Visible Alpha is valued at nearly $85 billion, and selling Intel would be a huge deal, but similar narrative Interest in the stock has been fueled in recent months.

Analysts Not Ready to Recommend ‘Buy’ Intel Yet

Intel is set to report its latest quarterly financial results later this month, and investors will certainly be watching the announcement and subsequent conference call for clues on how management may seek to execute on the plan.

Wall Street analysts are currently in a wait-and-see mode. Visible Alpha doesn’t track a “buy” rating on any individual stock — it records mostly “hold” ratings, with a few “sell” labels — although the average price target implies a stock price increase of more than 20% below recent levels. %.

Analysts at Deutsche Bank reiterated a “hold” rating earlier this week. “We expect shares to remain range-bound due to the company’s strategic and cyclical transitory position,” they wrote.

Intel shares closed up more than 9% on Friday.

renew: This article has been updated since it was first published to reflect new share price information.