Intel Corporation's (INTC, Financial) subsidiary, Intel Overseas Funding Corporation, has initiated a secondary public offering of 45 million shares of Mobileye's Class A common stock. Additionally, there is an option for the underwriters to purchase up to 6.75 million extra shares within 30 days. In a parallel move, Mobileye has agreed to repurchase $100 million of its own Class A stock from the selling entity at the same price per share offered to the underwriters. This transaction received approval from Mobileye's independent directors, excluding those linked to the selling stockholder. Goldman Sachs & Co. LLC and BofA Securities, Inc. are the lead managers for this offering.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 32 analysts, the average target price for Intel Corp (INTC, Financial) is $21.33 with a high estimate of $28.30 and a low estimate of $14.00. The average target implies an downside of 9.58% from the current price of $23.59. More detailed estimate data can be found on the Intel Corp (INTC) Forecast page.
Based on the consensus recommendation from 46 brokerage firms, Intel Corp's (INTC, Financial) average brokerage recommendation is currently 3.1, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Intel Corp (INTC, Financial) in one year is $23.86, suggesting a upside of 1.14% from the current price of $23.59. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Intel Corp (INTC) Summary page.
