tradingkey.logo

BUZZ-Intel falls after rally in previous session

ReutersFeb 19, 2025 5:21 PM

Chipmaker Intel's INTC.O shares fall 5.7% to $25.81 in early trade, after stock jumped 16% in prior session

Tuesday's rally followed a report on Saturday that rival chipmakers Taiwan Semiconductor Manufacturing Co 2330.TW and Broadcom AVGO.O are considering potential deals that would split INTC into two

Late on Tuesday, Reuters reported citing a person familiar with the matter that buyout firm Silver Lake is in exclusive discussions to buy a majority stake in INTC's Altera unit

Deal is likely to value Altera at about $9 billion

INTC has gained about 35% in February, on track for its best month since 1987

Majority of brokerages rate the INTC stock "hold"; their median PT is $21 - LSEG

Including session's moves, INTC stock had risen 28.7% YTD, compared with a 3.5% increase in the Nasdaq index .IXIC

Philadelphia semiconductor index .SOX rises 0.8% in early trading; index up 5.4% for the month

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

KeyAI