Intel to sell $1.5 billion stake in Mobileye

IntelYou need capital for your ambitious spending plans. Therefore, he has decided sell your stake in Mobileye Glob Rg-A to raise $1.5 billion according to Ian King at Yahoo Finance.

“The US company is offering 35 million shares with an option to sell another 5.25 billion shares from the Israeli manufacturer of automated driving technology,” Mobileye said Monday in a filing with regulators. Mobileye shares have been more than doubled since its initial public offering last October. Goldman Sachs Group and Morgan Stanley will finance the sale.

He Intel CEO Pat Gelsingerhas released a ambitious plan to regain leadership of his company in the semiconductor industry by building new plants and the rapid improvement of his manufacturing technology. It is doing so at a time when the main market for its products, personal computer processors, has plummeted. and the company is losing market sharewhich is hurting sales and profits.

After the sale, Intel will retain an 88% stake in Mobileyewhich he bought in 2018 for $15.3 billion.

Intel It is trading at $30.99 upwards. The 70 SMA is below the last six candles, the RSI is flat at 54 points and the fast line (blue) of the MACD remains above the slow line (red) and above the zero level.

Medium-term resistance is at $33.84 reached on April 4. Meanwhile, Ei indicators are mixed.

Mobileye Glob Rg-A It is trading at $42.79 upwards. The 70-period moving average is at the open of the penultimate candlestick, RSI is up at 54 points and the fast line (blue) of the MACD remains above the slow line (red) and the zero level.


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