Headquartered in Santa Clara, California, Intel Corporation (INTC) is a global leader in semiconductor design and manufacturing with a market cap of $95.4 billion. Intel’s expansive portfolio includes processors, chipsets, and system solutions, which drive innovation in computing and communications technology. 

INTC has significantly underperformed the broader market over the last year. The stock has declined 39.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 36.9%. In 2024, the stock is down 57.2%, compared to SPX's 19.6% gains on a YTD basis. 

Narrowing the focus, INTC also lagged behind the VanEck Semiconductor ETF (SMH). The exchange-traded fund has gained 38.2% on a YTD basis.

On Oct. 31, Intel’s shares fell over 3% after the company reported its Q3 earnings results. Its revenue of $13.28 billion topped the consensus estimates of $13.01 billion, but its adjusted loss per share of $0.46 fell short of Wall Street expectations.

On Oct. 16, Intel's stock fell 1.5% amid reports that Qualcomm (QCOM) is delaying its acquisition interest in Intel, awaiting post-election clarity on U.S.-China relations and antitrust policies.

For the current fiscal year, ending in December, analysts expect INTC’s loss of $ 0.47 per share to widen 223.7%. The company beat the consensus estimate in just one of the last four quarters while missing the forecast on the other three occasions. 

Among the 36 analysts covering INTC stock, the consensus rating is “Hold," based on two “Strong Buy” ratings, one “Moderate Buy,” 30 “Holds,” one “Moderate Sell,” and two “Strong Sells.”

This configuration is less bullish than three months ago, with four analysts suggesting a “Strong Buy.”

On Oct. 28, Stacy Rasgon from Bernstein maintained a “Hold” rating on Intel, with a price target of $25, which indicates a 16.2% upside from the current levels.

The mean price target of $29.22 represents a 35.8% premium to INTC’s current price levels. The Street-high price target of $66 suggests an upside potential of 206.7%.

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On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.