According to a source with knowledge of the matter, Intel Corp and TPG Capital are in early talks to sell security software firm McAfee to Thoma Bravo LLC, a private equity company.
Since negotiations are at an early stage, it is not certain whether an agreement will be reached, the source noted.
Intel shares closed lower for the fourth time in the past fourteen trading sessions on NASDAQ on Friday. The stock went down 0.89% ($0.43) to $47.86, after touching an intraday high at $48.76, or a price level not seen since December 4th ($49.60).
Shares of Intel Corporation have gained 3.68% so far in 2018 compared with a 2.76% drop for the benchmark index, S&P 500 (SPX).
In 2017, Intel’s stock surged 22.50%, thus, it again outperformed the S&P 500, which registered a 19.42% return.
Last year Intel finalized the sale of a 51% stake in McAfee to TPG Capital at an enterprise value of $4.2 billion. Intel had acquired McAfee in 2011 for $7.7 billion.
Meanwhile, in November, Thoma Bravo paid $950 million to buy cyber security firm Veracode from Broadcom Inc. A month earlier, Thoma Bravo LLC also acquired Imperva Inc for as much as $2.1 billion.
According to CNN Money, the 34 analysts, offering 12-month forecasts regarding Intel Corporation’s stock price, have a median target of $55.00, with a high estimate of $70.00 and a low estimate of $40.00. The median estimate represents a 14.92% upside compared to the closing price of $47.86 on December 14th.
The same media also reported that 17 out of 40 surveyed investment analysts had rated Intel Corporation’s stock as “Buy”, while 13 – as “Hold”. On the other hand, 6 analysts had recommended selling the stock.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Intel Corporation (INTC) are presented as follows:
Central Pivot Point – $47.54
R1 – $49.08
R2 – $50.29
R3 – $51.83
R4 – $53.36
S1 – $46.33
S2 – $44.79
S3 – $43.58
S4 – $42.36
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