Needham & Co. Reaffirms "buy" rating on Intel following NVIDIA Deal: computer processor manufacturer Intel (INTC - news - people) on Tuesday, has seen its "buy" rating reaffirmed by analysts at Needham & Co., to the company licensing fees agreed with the manufacturer of the graphics chip NVIDIA (NVDA - news - people).
The company also supported its target price of $26 on INTC, implying a 26% upside to closing stock Monday $ 20.69.
An analyst Needham, commented, we believe the billion $1 fresh, payable to NVIDIA in six annual instalments, licensing is financially a good price for Intel for this technology, and limited financial impact on revenue from the INTC. We slightly modify our estimates to reflect licensing payments and reiterate our rating. Damping impacts GM 2011 and EPS by 39 bps and $ 0.02, respectively, bringing our 2011 EPS estimates to $1.88 to $1.90. "Our 2012 EPS estimate is revised to $2.12 $ 2.15 and our hypothesis of GM fell 49 bps to 65.6%.
The bottom line
Intel shares have a 3.48% yield dividend, based on last night course closing $ 20.69. The stock has technical support in the field of price of $19. If the shares can strengthen, we see General resistance in price from $22-23 $ levels.
Intel is not recommended at this time, taking a Dividend.com DARS Rating of 3.4 on 5 stars.
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