Though the picture looked grim for chip stock Intel (INTC) not so long ago, things have improved substantially over the last few weeks. Whether it is Intel’s huge new commitment to cutting costs, or some of the advances it has made in landing funding, investors are interested. In fact, Intel managed to hit a 52-week high late yesterday. Though it did back off from that high somewhat in today’s trading, as Intel stock is down fractionally in Friday afternoon’s trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Reports noted that, in Thursday’s trading, Intel hit a 52-week high of $38.07, suggesting that investors have at least some faith that Intel can turn things around and become a powerhouse in chips once more. Considering that Intel’s share price has roughly doubled over the course of the last year, reports note, that may not be so outlandish.
The new funding Intel has brought in from a variety of sources is helping, reports note, as has Intel’s moves to grow its product line and get its foundry operations up and running properly. We have seen, in the last several weeks, companies that were outright competitors become investors and potential customers alike, suggest that investors are not the only ones who see something noteworthy in Intel these days.
The Legacy of Lip-Bu Tan
Meanwhile, a report also came out detailing the changes at Intel under the tenure of new CEO Lip-Bu Tan, who has been in place for around six months now. Tan’s tenure has brought with it quite a few changes already, and some are much larger than others.
Several big names have already left. Intel’s Chief People Officer Christy Pambianchi departed, as has former Chief Tech Officer Greg Lavender. Even former interim CEO Michelle Johnston Holthaus left. And that is just the bigger names; Intel has fired thousands so far and looks to fire a combined total of 25,000 people before the end of 2025.
Is Intel a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on two Buys, 27 Holds and four Sells assigned in the past three months, as indicated by the graphic below. After a 65.12% rally in its share price over the past year, the average INTC price target of $26.18 per share implies 29.62% downside risk.
