Intel dips after unveiling $15 billion planned share sale
INTC•Deal managers and stock context
J.P. Morgan Securities, Goldman Sachs, Morgan Stanley and Citigroup Global Markets are acting as joint book-running managers for the offering.
INTC has 5 billion outstanding shares for a $512.7 billion market cap, per LSEG.
14 of 49 brokerages rate the stock "buy" or higher, 33 "hold" and 2 "sell"; median PT $110, according to data compiled by LSEG.
As of the last close, INTC stock was up 175.5% year to date.
Intel shares fall after planned stock offering
Intel's INTC.O shares fell 3.2% to $98.52 premarket after unveiling a $15 billion stock offering.
INTC plans to use proceeds for general purposes, including capital expenditures and working capital.
The offering is intended to further enable Intel to pursue growth opportunities ahead, the company said.
Company cites AI-driven demand and growth areas
"Customers continue to signal a strong and sustainable demand environment, driven by unprecedented investment in AI compute. Progress in emerging areas including physical AI, purpose-built silicon, advanced packaging and external wafers represent significant growth opportunities for Intel," the firm said.
