Williams Financial Group Reiterates Hold Rating on Intel Following In-Line Revenue Results

In a report published Wednesday, Williams Financial Group analyst Cody G. Acree reiterated a Hold rating on Intel Corporation (NASDAQ: INTC).

In the report, Williams Financial Group noted, “After several quarters of Intel and the Street adjusting to global softness in the PC market, Intel's revenue results were generally in-line with expectations, while stronger than expected gross margins drove a positive bottom line surprise. The company's margins benefited during the quarter from higher average selling prices, lower than expected production costs and platform write-offs, and a greater percentage of factory start-up costs that moved from cost of sales to R&D. Intel is also seeing continued strength from its data center group, driven by cloud computing, storage and networking, which is expected to deliver even faster growth in the fourth quarter.”

Intel Corporation closed on Tuesday at $23.45.