Intel Unit Spinoff Seen as Smart Move From Business, Valuation Perspectives -- Market Talk

Dow Jones2023-10-04

1126 ET - Intel's latest spinoff is seen as a smart move both business-wise and valuation-wise, say analysts at UBS in a research note. The semiconductor giant on Tuesday said its division that makes programmable chips will begin to operate as an independent entity on Jan. 1, with a plan to sell shares in an IPO within two to three years. The analysts say business-wise they see a broader focus beyond data center as a good move given other success stories including Lattice and Xilinx. But at the same time they note it's hard to see how a full separation will accelerate the division's fortunes as it's hard to argue it was "under-resourced given Intel's bloated cost structure." Valuation-wise, the analysts say it's a wise move as the division wasn't getting much valuation as part of Intel. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

October 04, 2023 11:26 ET (15:26 GMT)

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