Intel Corporation INTC shares are trading lower by 2.13% to $28.45 Monday morning. Shares of semiconductor companies at large are also trading lower, weakness may be in sympathy with ON Semiconductor, which fell after reporting third-quarter results.
Also, Citigroup analyst Christopher Danely maintains Intel with a Neutral and lowers the price target from $30 to $27. Barclays analyst Blayne Curtis upgrades Intel from Underweight to Equal-Weight and announces a $30 price target.
What Happened?
ON Semiconductor said third-quarter revenue increased 26% year-over-year to $2.19 billion, which beat average analyst estimates of $2.12 billion, according to Benzinga Pro.
The company reported quarterly earnings of $1.45 per share, which beat average estimates of $1.32 per share.
ON Semiconductor also expects fourth-quarter revenue to be between $2.01 billion and $2.14 billion versus average estimates of $2.1 billion...Read More
INTC has a 52-week high of $56.28 and a 52-week low of $24.59.
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