Intel Corporation (NASDAQ:INTC)’s ratings has been raised by the analysts at Sanford C. Bernstein from Under Perform to a Market Perform in a report released on Thursday, June 25th 2014. Also, on June 24th, Vice President M. Holt unloaded 26,662 shares of the Intel in an open market transaction.
Holt unloaded 26,662 shares of the Intel in an open market transaction dated Thursday, June 24th. Holt unloaded the shares at an average price of $30.45 for a total value of $811,857.90. VP Holt now directly owns 27,328 shares of the company’s stock, valued at approximately $832,138, according to a filing with SEC.
Separately, S&P Equity analysts have maintained a Buy rating on the stock in a research note to the investors on Wednesday, June 18th. BMO capital Markets analysts assigned Outperformrating on the stock, raising price target from $31.00 to $33.00, in a research note on Friday, June 13th.
Intel Capital sells Imagination stake
Intel Capital Corp sold 9.3% stake in the Imagination Technologies Plc, but this will not affect the operational relationship between both the companies. Credit Suisse, Jefferies International and JP Morgan, who assisted in the sale of stake, said that Intel Capital will be subject to a 90-day lockup on its remaining Imagination Technologies stake of about 5%.
Total shares sold were 25 million and per share price was 205 pence, which totaled to GBP51.25 million. The sales were concluded through an accelerated book build, which means that there was hardly any marketing done.Intel Capital stated in a filing that the company is taking forward these sales as a usual course of its portfolio management. It added that the transaction would not affect the business relationship between both the companies and that the chipmaker has licensed several generations of Imagination Technologies graphics and video processing cores.
“These licenses remain in effect and have not been amended in connection with the placing. Intel corporation and the company continue to discuss opportunities to work together,” the statement said.
Android TV to get Intel chip
Intel is once again gearing up to seize a pie of the trending TV market after making several failed attempts previously. The company is working in collaboration with Google to bring Android TV and its experience in the market. Intel’s role in the partnership is expected to be that of a chip supplier for the TV, set-top boxes and devices like Chromecast. The company is targeting at position its chips in almost every consumer electronic product.