Coverage of Intel Corporation (NASDAQ:INTC) shares was reinstated with a Neutral rating by Zacks on Friday. Analysts with the firm noted that the company is one of the leading manufacturers of microprocessors in the world. Zacks presently has a $27 price target on the chip maker.

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Competition for Intel in mobile segment

For the last reported quarter, Intel Corporation (NASDAQ:INTC) posted earnings per share of 38 cents, which was above the Thomson Reuters estimate of 37 cents. Revenue for the company came in at $12.80 billion in the quarter, compared to the consensus estimate of $12.81 billion. In the same quarter last year, earnings per share came in at 40 cents. Revenue increased 1.5% on a year over year basis. Analysts are expecting earnings per share of $1.89 for the current fiscal year.

Earnings for the first quarter were above the Zacks consensus estimate by a whisker. Guidance for future earnings was in line with the consensus estimate. The chip maker is confident about its performance in the mobile segment. However, Zacks analysts believe that this will be counterbalanced by conservative spending from individuals and corporations, along with competition from ARM-based devices and the effect of new product ramp-up costs.

Intel Corporation (NASDAQ:INTC)’s dominance in the server and software segment is its biggest asset, according to the firm. The analysts said stabilization in the PC market, Intel’s process lead, and the company’s reasonable valuation has led them to maintain their Neutral rating.

Rating from other analysts

Apart from Intel Corporation (NASDAQ:INTC), Zacks has also recently issued verdicts on other information technology stocks. The analysts have maintained their Neutral rating on Advanced Micro Devices, Inc. (NYSE:AMD) with a price target of $4.25. On Analog Devices, Inc. (NASDAQ:ADI), Zacks reiterated its Neutral rating and price target of $55.

Apart from Zacks, other analysts have also come out with their ratings on Intel Corporation (NASDAQ:INTC). Recently Morgan Stanley analysts maintained their Underweight rating on the stock in a research note issued on Monday, May 19, 2014. They have assigned a price target of $24 to the chip maker. Separately, Susquehanna analysts maintained their Neutral rating on the stock with a price target of $23, in a research note on April 16, 2014. MKM analysts have maintained their Neutral rating on the stock with a price target of $27 in a research note also dated April 16, 2014.

Intel Corporation (NASDAQ:INTC) presently has an average rating of Hold and an average target price of $26.44.