Intel (INTC): Analysts Make Mostly Bullish Case Following Q4
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Price: $43.42 -5.51%
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Rating Summary:
20 Buy, 39 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Intel Corp. (NASDAQ: INTC) shares are seeing downward pressure on Friday in midday market movement despite posting better-than-expected fourth-quarter results and forecasting for the current period ahead of the Street.
The world's largest maker of microprocessors reported fourth-quarter earnings of 59 cents, 6 cents better than the analyst estimate of 53 cents per share. The result was 48 percent from the same quarter last year.
Revenue for the company rose 8 percent to a record $11.5 billion in the period, ahead of the market consensus of $11.37 billion.
Gross margin for Intel in the quarter was 67.5 percent, beating the forecast.
Looking forward, the company sees first quarter sales of $11.5 billion plus or minus $400 million. The Street is currently looking for quarterly sales of $10.71 billion.
For the full year 2011, Intel sees gross margin of 65 percent, plus or minus a few percentage points.
Shares of Intel are 1.03 percent to $21.07 in midday market movement on Friday.
Bullish analyst views following results:
Needham & Co. reiterated a Buy rating on Intel with a $26 price target, noting that the enterprise refresh looks to continue for PCs and double-digit growth for PCs in emerging markets.
Morgan Stanley reiterated an Overweight rating on Intel with a $27 price target saying that “there are 9 billion reasons why Intel plays in tablets and smartphones," adding that Intel “is laying the groundwork to be a formidable competitor in the growing tablet and smartphone markets, and while Intel’s largest PC competitor [AMD] is shifting strategy and searching for a new CEO.”
Raymond James reiterated its Outperform rating on the stock, while raising its price target from $27.50 to $31.50. The firm sees Intel's $9 billion in capital spending promised as "extremely bullish"
Standard & Poor's reiterated a Buy rating on Intel, while raising the firm's price target to $27. The analyst says that the valuation of the company is simply to low, despite an apparent lack of leadership on tablets and handsets.
Deutsche Bank maintained a Buy rating on Intel, raising its price target to $27. The firm said "Intel began semi earnings season with a bang by beating 4Q ests, guiding for a strong 1Q and unleashing its biggest capex plan in history. For 2011, we expect INTC to follow up its recent success in expanding margins with a more aggressive drive for revenue growth in both its core and emerging mkts (tablets, smartphones and embedded).
Auriga reiterated a Buy rating on Intel saying that the company will remain solid in 2011. The firm is raising their EPS and revenue estimates. Auriga is raising their 1Q11 revenue/EPS estimates to $11.5B/$0.52 from 10.6B/$0.44, FY11 goes to $45.4B/$2.04 from $44B/$1.86, and their FY12 goes to $46.5B/$2.14 from $44.7B/$1.87. The firm is maintaining their price target of $26.
Wedbush reiterated an Outperform rating on the shares of Intel as they believe that the stock is undervalued after reporting a solid 4Q beat and guidance for 2011 that is well above the consensus. The firm is raising their price target on the company $27 from $24.
UBS reiterated a Buy rating on Intel raising its price target from $25 to $27. The firm said, "We raise our 1Q11 sales/EPS estimates by 6%/16% to $11.52bn/$0.52 and the full year 2011 estimates by 5%/9% to $48.1bn/$2.21. For 2012/13 we raise our sales estimates by 6%/7% to $.51.7bn/$54.6bn and EPS estimates by 8%/9% to $2.37/$2.50."
Bearish views on Intel's first-quarter results:
Pacific Crest reiterated a Sector Perform rating on Intel with a target price range of $21 to $22. The analyst need to see the company produce their 32-nanometer system-on-a-chip, “Medfield,” before he becomes more optimistic about Intel.
JPMorgan reiterated a Neutral rating on Intel, while lifting its price target on the Stock from $17 to $21.50. The firm said that Intel "needs to lower utilization rates and inventory” as the company's inventory rose the second-highest amount in fifteen years in the quarter.
Jefferies & Co. reiterated an Underperform rating on Intel with $17 price target, noting that the PC market is in long-term decline. The analyst cut his 2011 EPS forecast to $1.94 on higher operating expenses.
The world's largest maker of microprocessors reported fourth-quarter earnings of 59 cents, 6 cents better than the analyst estimate of 53 cents per share. The result was 48 percent from the same quarter last year.
Revenue for the company rose 8 percent to a record $11.5 billion in the period, ahead of the market consensus of $11.37 billion.
Gross margin for Intel in the quarter was 67.5 percent, beating the forecast.
Looking forward, the company sees first quarter sales of $11.5 billion plus or minus $400 million. The Street is currently looking for quarterly sales of $10.71 billion.
For the full year 2011, Intel sees gross margin of 65 percent, plus or minus a few percentage points.
Shares of Intel are 1.03 percent to $21.07 in midday market movement on Friday.
Bullish analyst views following results:
Needham & Co. reiterated a Buy rating on Intel with a $26 price target, noting that the enterprise refresh looks to continue for PCs and double-digit growth for PCs in emerging markets.
Morgan Stanley reiterated an Overweight rating on Intel with a $27 price target saying that “there are 9 billion reasons why Intel plays in tablets and smartphones," adding that Intel “is laying the groundwork to be a formidable competitor in the growing tablet and smartphone markets, and while Intel’s largest PC competitor [AMD] is shifting strategy and searching for a new CEO.”
Raymond James reiterated its Outperform rating on the stock, while raising its price target from $27.50 to $31.50. The firm sees Intel's $9 billion in capital spending promised as "extremely bullish"
Standard & Poor's reiterated a Buy rating on Intel, while raising the firm's price target to $27. The analyst says that the valuation of the company is simply to low, despite an apparent lack of leadership on tablets and handsets.
Deutsche Bank maintained a Buy rating on Intel, raising its price target to $27. The firm said "Intel began semi earnings season with a bang by beating 4Q ests, guiding for a strong 1Q and unleashing its biggest capex plan in history. For 2011, we expect INTC to follow up its recent success in expanding margins with a more aggressive drive for revenue growth in both its core and emerging mkts (tablets, smartphones and embedded).
Auriga reiterated a Buy rating on Intel saying that the company will remain solid in 2011. The firm is raising their EPS and revenue estimates. Auriga is raising their 1Q11 revenue/EPS estimates to $11.5B/$0.52 from 10.6B/$0.44, FY11 goes to $45.4B/$2.04 from $44B/$1.86, and their FY12 goes to $46.5B/$2.14 from $44.7B/$1.87. The firm is maintaining their price target of $26.
Wedbush reiterated an Outperform rating on the shares of Intel as they believe that the stock is undervalued after reporting a solid 4Q beat and guidance for 2011 that is well above the consensus. The firm is raising their price target on the company $27 from $24.
UBS reiterated a Buy rating on Intel raising its price target from $25 to $27. The firm said, "We raise our 1Q11 sales/EPS estimates by 6%/16% to $11.52bn/$0.52 and the full year 2011 estimates by 5%/9% to $48.1bn/$2.21. For 2012/13 we raise our sales estimates by 6%/7% to $.51.7bn/$54.6bn and EPS estimates by 8%/9% to $2.37/$2.50."
Bearish views on Intel's first-quarter results:
Pacific Crest reiterated a Sector Perform rating on Intel with a target price range of $21 to $22. The analyst need to see the company produce their 32-nanometer system-on-a-chip, “Medfield,” before he becomes more optimistic about Intel.
JPMorgan reiterated a Neutral rating on Intel, while lifting its price target on the Stock from $17 to $21.50. The firm said that Intel "needs to lower utilization rates and inventory” as the company's inventory rose the second-highest amount in fifteen years in the quarter.
Jefferies & Co. reiterated an Underperform rating on Intel with $17 price target, noting that the PC market is in long-term decline. The analyst cut his 2011 EPS forecast to $1.94 on higher operating expenses.
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