Intel (INTC) Stock Rises 4% After Barclays Upgrade and SK Hynix Talks

TLDR

• Intel stock rose 4% on Wednesday after Barclays upgraded it from Underperform to Overweight, with the stock hitting $104.42 intraday
• CEO Lip-Bu Tan bought 105,263 Intel stock for approximately $10 million at $95.00 per share, boosting his position by 8.7%
• SK Hynix is in ongoing talks with Intel about leasing space at its Ohio fab or forming a joint venture, though no deal is confirmed
• Mizuho cut its price target on Intel from $109 to $92, citing short-term pressure on AI-related stocks, while keeping a Neutral rating
• Intel-backed Altera filed confidentially for an IPO, with Intel expected to retain a 49% stake in the FPGA business

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Intel (INTC) stock jumped 4% on Wednesday, trading as high as $104.42 intraday before settling around $101.05. The move was sparked by a Barclays upgrade, lifting the stock from Underperform all the way to Overweight.

Intel Corp., INTC

The timing of the upgrade caught attention. Intel has been under pressure for some time, and a jump to Overweight from one of Wall Street’s major banks is not something traders ignored.

The consensus analyst rating still sits at “Hold,” with an average price target of $108.49. That is based on one Strong Buy, 20 Buy ratings, 27 Holds, and three Sells. Tigress Financial raised its target from $118 to $145, citing Intel’s Terafab manufacturing plans and AI growth potential.

Mizuho moved in the opposite direction, cutting its price target from $109 to $92, while keeping its Neutral rating. The firm pointed to “short-term multiple compression across Agentic AI stocks” as the reason for the pullback.

CEO Lip-Bu Tan made a notable move of his own in August, buying 105,263 Intel stock at $95.00 per share, totaling just under $10 million. That increased his position by 8.7%, bringing his total holdings to 1,314,669 Intel stock.

SK Hynix Talks Keep Going

One of the bigger stories driving investor interest this week is the ongoing discussion between Intel and SK Hynix. According to a Wall Street Journal report, talks are still active and may center on Intel’s Ohio fab, a plant that has not yet been built.

There is also talk of a possible joint venture that would give cloud computing firms access to chip supply. However, the South Korean government could get involved given the national security implications tied to SK Hynix’s chip operations.

SK Hynix has been clear that no specific deal has been confirmed. Intel investors are watching closely, as a partnership would give the company a path to monetize its Ohio investment and attract manufacturing volume beyond its traditional CPU business.

Intel has seen its stock rise over 290% in the past year, a rally that reflects growing optimism around its foundry strategy and AI positioning.

Altera IPO Filing Adds Another Layer

Intel-backed Altera filed confidentially for a proposed public offering. Intel is expected to keep a 49% stake in the FPGA business. The filing could help establish a clearer market value for Altera and support Intel’s broader restructuring plans.

On the earnings front, Intel reported Q2 EPS of $0.42, beating the consensus estimate of $0.21. Revenue came in at $16.13 billion, ahead of the expected $14.43 billion, and up 25.2% year over year.

Intel set Q3 2026 guidance at $0.38 EPS. Analysts expect full-year EPS of $1.04 for the current fiscal year. The company’s 50-day moving average sits at $97.10, with a 200-day moving average of $90.93.

Institutional investors hold 64.53% of Intel stock.