Nomura Securities Maintains a 'Reduce' on Intel (INTC); Intel & Ultrabooks

Nomura Securities maintains a 'Reduce' on Intel (NASDAQ: INTC) price target of $21.00.

Nomura analyst, Romit Shah, said, "We walked out of the Intel's press event yesterday wanting to own an Ultrabook. This is an all-in-one device (laptop, tablet and game-station). The company showcased designs from Samsung, Toshiba, and Lenovo featuring Windows 8 with touch, a powerful 22nm Ivy Bridge processor, and DX11 gaming. There were also new features such as speech recognition, motion detection, and a touch pad. And all of this was packed into a super-thin device (17.8 in screen width) weighing less than 3 pounds. The leading touch controller suppliers Atmel (Nasdaq: ATML)(Not rated) and Cypress (NYSE: CY)(not rated) could be big beneficiaries from Ultrabooks. We estimate 100mn units (40% of laptops) could increase the touch controller TAM by $300-500mn."

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $25.47 yesterday.

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