Intel rises after co trims full-year expense outlook

Shares of chipmaker Intel INTC.O rise 4.03% to $25.05 after co trims its full-year expense outlook, following the sale of a majority stake in its programmable chip unit, Altera

INTC lowers FY25 adjusted operating expense target to $16.8 bln from $17 bln earlier

The outlook reflects the sale of 51% stake in Altera to PE firm Silver Lake for an equity value of $3.3bln as part of streamlining operations under CEO Lip-Bu Tan

INTC's FY26 operating expense target of $16 bln remains unchanged

Three of 46 brokerages rate the stock "buy" or higher, 39 "hold" and four "sell" or lower; their median PT is $22 — data compiled by LSEG

Including session's move, stock up 24.96% YTD