Intel (INTC) Stock: Mizuho Raises Price Target to $135 on Packaging Outlook

TLDR

• Mizuho raised its Intel price target to $135 from $128, keeping a Neutral rating, as INTC trades at $133.99
• Intel’s EMIB-T advanced packaging technology is gaining traction but needs yield improvements to hit 99%
• Intel reported Q1 EPS of $0.29, beating the $0.01 consensus, with revenue of $13.58B vs. $12.32B expected
• Evolve Private Wealth LLC trimmed its Intel position by 15.8%, selling 11,989 shares in Q1
• The consensus analyst rating remains Hold, with an average price target of $87.29

Intel (INTC) stock is trading at $133.99, just below its 52-week high of $135.48, after Mizuho raised its price target to $135 from $128 on Monday. The firm kept its Neutral rating on the stock.

Intel Corporation, INTC

The move came after Mizuho hosted an expert call focused on advanced packaging technology, where Intel’s EMIB-T approach was flagged as one of two methods gaining momentum in the industry. The other is TSMC’s CoWoS-L.

Mizuho believes EMIB-T is the cheaper option of the two. However, the firm noted that yields need to reach 99% before the technology can be considered fully production-ready.

The analysts also flagged glass substrate technology as an emerging area. It offers better thermal conductivity and denser wiring, and Intel’s partner for this work is AMKR.

On the 3D packaging front, Intel’s Foveros and TSMC’s SoIC technologies are pushing vertical integration further. Mizuho sees both EMIB-T and CoWoS-L driving incremental demand for TSV, drilling, and lithography equipment.

Strong Q1 Earnings Helped Fuel the Rally

Intel’s stock run hasn’t been built on packaging hype alone. The company posted a strong Q1, reporting EPS of $0.29 against a consensus estimate of just $0.01. Revenue came in at $13.58 billion, well ahead of the $12.32 billion Wall Street had expected.

Revenue was up 7.4% year-over-year. For Q2 2026, Intel guided for EPS of $0.20.

The company has also made a string of operational moves that have caught investors’ attention. Intel appointed Seok-Hee Lee as EVP of Intel Foundry to lead advanced packaging and system integration. Its 18A-P process node entered risk production on schedule, a development highlighted at the 2026 VLSI Symposium.

Intel is also reportedly in talks with Google and Nvidia to serve as a backup chip manufacturer, as TSMC faces capacity pressure.

Institutional Activity Mixed

Not everyone is adding to their Intel position. Evolve Private Wealth LLC cut its stake by 15.8% in Q1, selling 11,989 shares. It now holds 64,024 shares valued at around $2.83 million.

Other firms made smaller additions. Winch Advisory Services increased its position by 28.3% in Q4, while ROI Financial Advisors and Focus Financial Network each added incrementally. Institutional investors hold 64.53% of the stock.

On the insider side, EVP April Miller sold 40,256 shares at $99.53 on May 1st, reducing her stake by 27.7%.

Analyst Sentiment Still Cautious

Despite the stock’s run, Wall Street remains cautious overall. Out of 47 analysts tracked by MarketBeat, 27 have a Hold rating, 15 have a Buy, 4 have a Sell, and one has a Strong Buy.

The consensus price target sits at $87.29, well below where the stock is currently trading. Melius Research is the most bullish, with a $150 target. Sanford C. Bernstein has a $100 target with a Market Perform rating.

Intel’s 50-day moving average is $102.59 and its 200-day moving average is $64.87, both well below the current price. The stock has a beta of 2.21 and a market cap of $673.43 billion.

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