|Bid||380.000 x N/A|
|Ask||392.000 x N/A|
|Day's Range||350.200 - 350.200|
|52 Week Range||250.000 - 400.000|
|Beta (5Y Monthly)||0.73|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||10.78 (3.08%)|
|Ex-Dividend Date||Feb 04, 2021|
|1y Target Est||N/A|
(Bloomberg) -- Intel Corp.’s incoming Chief Executive Officer Pat Gelsinger is luring back talent to world’s largest chipmaker before he even officially returns.Sunil Shenoy will rejoin Intel as senior vice president of the Design Engineering group effective Feb. 1, the Santa Clara, California-based company said in a statement Wednesday. When he left in 2014, Shenoy was head of Intel’s platform engineering group, a narrower role to the one he’s assuming now.Glenn Hinton, a former Intel Senior Fellow who led the development of a key chip design, also returned to the company recently in a senior engineering role. Shenoy and Hinton will report to outgoing CEO Bob Swan until the middle of February, and then to Gelsinger who officially rejoins Intel on Feb. 15.Gelsinger, who previously spent 30 years at Intel, said he’s bringing back the style of management he learned from the founders, notably Andy Grove. Before Swan, Intel had always been run by home-grown executives who were adherents to Grove’s data-driven decision making and direct, sometimes confrontational, internal communication aimed at ensuring problems were never buried.In Gelsinger’s absence, Intel lost its lead in manufacturing technology, leaving it facing rivals with better products and customers that are defecting or building their own chips. Under Swan’s predecessor, Brian Krzanich, a number of senior executives and top engineers left and were replaced by outsiders. The influx of executives, such as Murthy Renduchintala from Qualcomm Inc., failed to fix product delays and contributed to a crisis that spurred the board to recruit Gelsinger.Read more: Intel’s New CEO Recommits to Chip ManufacturingShenoy was an executive at SiFive, a startup that’s trying to commercialize chip designs based on a technology called RISC-V, a rival to Intel’s X86 and Arm Ltd.’s dominant instruction sets.Read more: Silicon Valley’s Next Revolution Is Open Source Semiconductors“His experience inside and outside of Intel will enable him to combine the best of Intel culture with an entrepreneurial spirit and fresh perspective as we work to strengthen the company’s technical leadership team and to coach and develop a new generation of technical talent,” Swan said in the statement.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Intel Corporation announces that Sunil Shenoy will join the company as senior vice president and general manager of the Design Engineering Group.
Intel Corporation's (NASDAQ: INTC) is launching a fresh round of investment in its Vietnamese unit. This comes soon after incoming CEO Pat Gelsinger revealed the company's intention to rely big on internal manufacturing for its product line-up leading up to 2023. What Happened: Intel announced that it has invested $475 million in Intel Products Vietnam, in addition to the $1-billion investment made in the chip assembly and test manufacturing facility in Saigon Hi-Tech Park in 2006. The total investment in the facility now stands at $1.5 billion. A $475-million investment made between June 2019 and December 2020 helped enhance manufacturing of the company's 5G products, Intel Core processors with Intel hybrid technology and 10th-generation Intel core processors, the company said in a statement. Related Link: Why The Best Outcome For Intel Shareholders Is To Break Up The Chipmaker Why It's Important: Intel Products Vietnam IPV is the largest assembly and test manufacturing facility in the Intel assembly and test network. The unit will continue to diversify and improve its local operations so that it can take on more complex technologies and new products to enable Intel to tap new market opportunities, the company said. Intel's decision to keep in-house manufacturing has drawn mixed reactions from analysts. Some see the decision as a step backward, given that Intel will lag the foundries in terms of processor node technology even if the company executes on its current plans. Intel is navigating through challenging times, as it has widely viewed as having ceded technological leadership and market share to rivals such as Advanced Micro Devices, Inc. (NASDAQ: AMD) and NVIDIA Corporation (NASDAQ: NVDA). INTC Price Action: Intel shares were slipping by 1.76% to $54.24 at last check Wednesday. Related Link: Why Intel's CEO Transition Is A Negative For AMD: Analyst Photo: Intel. See more from BenzingaClick here for options trades from BenzingaAMD: What The Street Is Saying Ahead Of Chipmaker's Q4 Print8 Intel Analysts On Q4 Report: Why Some See Difficult Years Ahead For Chipmaker© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.