FBR Capital Maintains “Market Perform” Rating on Intel (INTC)

Filed in dividend, FBR Capital, Gold, Guidance, o, revenue, shares by on November 22, 2010 0 Comments

Computer processor maker Intel Corporation ( INTC ) on Monday saw its “Market Perform” rating reiterated by analysts as FBR Capital Markets. The firm also left its $27 price target for INTC unchanged, which implies a massive 28% upside to the stock’s Friday closing price of $21.14. An FBR analyst commented, “Recent 4Q notebook PC build checks with the top five ODMs are slightly weaker than our month-ago checks as OEM customers await signs of Black Friday holiday sell-through before becoming more aggressive about late-quarter reorders, and as the supply chain whittles away any remaining Calpella platform PC inventory ahead of the 1Q11 Sandybridge ramp. We now expect 4Q notebook builds to grow +1% QOQ, two points weaker than last month’s +3% QOQ. For Intel, tepid growth in notebook builds and slight shrinkage in desktop builds means that 4Q revenues are likely tracking in the lower half of guidance of $11.0B–$11.8B (+3% QOQ, +8% YOY), though 4Q server strength and easy 3Q comparisons for Atom chips could help somewhat.” Intel shares fell 15 cents, -0.7%, in premarket trading Monday. The Bottom Line Shares of Intel Corp ( INTC ) have a 3.41% dividend yield, based on Friday’s closing stock price of $21.14. The stock has technical support in the $19 price area. If the shares can firm up, we see overhead resistance around the $22-$23 price levels. Intel Corporation ( INTC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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FBR Capital Maintains “Market Perform” Rating on Intel (INTC)

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