Shares of Intel Corporation (NASDAQ:INTC) [Detail Analytic Report] eased down in early trading session on Monday as it around 5,200 Irish workers along long-term contractors are dubious to learn for weeks the total number of jobs that it will be lost across its operations in this country.
Ireland general manager of Intel, Eamonn Sinnott told employees in an email last Thursday that employees would be notified “within 72 hours of 4 May” if they were set to lose their jobs. It is understood they will not be informed of total number of jobs targeted as they sit down to individual as well as group meetings with managers in coming days.
A spokeswoman for Intel (INTC) in Ireland refused to comment on report, as did a spokesman for IDA Ireland. The initial plan was released on April 19th. The job-elimination plan comes as Intel grapples with dropping demand for PC and looks to refocus on more profitable business, such as cloud computing, which permits people and businesses store and access data online.
Noting a main crunch of analyst research by WSJ, INTC under observation of quarterly per share earnings, it has second quarter 2016 trend of $0.34, while in next quarter estimated EPS trend is $0.60 and for annual basis for 2016 estimated EPS is $2.10. Relatively pool of WSJ analyst issues diverse rating, as for current level it has 23 experts rated as “BUY” security, 2 analyst recommend as “Overweight,” and 13 experts rated as “Hold”.
ON Semiconductor Corp. (NASDAQ:ON) [Detail Analytic Report] declared that it has enlarged its previously announced tender offer to buy all of the outstanding shares of common stock of Fairchild Semiconductor International Inc. (FCS) for $20 per share in cash pending satisfaction of conditions to the Offer set forth in the merger contract signed on November 18, 2015 among ON Semiconductor and Fairchild.
The pending satisfaction of conditions to proposal, merger contract needs successive 10-business day extensions of Offer, and ON Semiconductor currently intends to continue making such successive extensions, subject to the other terms and conditions of the merger agreement.
For current month, 0.22 analyst from pool recommended for an “overweight” rating, while 0.18 gave rating of “Buy” and 0.91 analysts suggest to “Hold” and 23 gave preference to “underweight,” according to research rating by WSJ. While alarming thing to be notice is price target, the average pool price target for ON has been mentioned as; 2 tends to high price target, medium level touched to 3, and 2 was assigned as lowest share price targets. To accommodate all of these, average analyst price target appeared by 12, where as the current price is 10, as per research conducted by WSJ.
Intersil Corporation (NASDAQ:ISIL) [Detail Analytic Report] declared that financial results for Q1 ended April 1, 2016. The Q1 revenue of $129.3M was increase 2.1% sequentially. The president and CEO of Intersil, Necip Sayiner stated that Q1 was a solid quarter, with new product ramps and a stabilizing demand environment. They are encouraged by strong design activity and momentum building across all of their investment businesses.
Revenue for the first quarter was better than seasonal due to ramps of new business in C&C, record revenue in automotive, and recovery in infrastructure and industrial markets. I&I revenue increased 4% sequentially, with automotive, power and analog growing in the quarter. Automotive revenue reached another record as strong end-market demand and new business propelled the business forward.