Why Intel (INTC) Stock Hit A New 52-Week High Today

NEW YORK (TheStreet) -- Shares of Intel  (INTC) are up 1.90% to hit a new 52-week high of $28.18 after BMO Capital Markets (BMO) released a research note that expressed optimism for PC motherboard shipments. 

The firm also sees motherboard shipments rising 6% in June, which is slightly better than the 5% averaged over the last 3 years.

BMO said, within its coverage of PC-related hardware and semiconductor names, it recommends Intel and Western Digital Corp (WDC).

Must Read: Warren Buffett's 25 Favorite Growth Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Also, Intel CEO Brian Krzanich said the company may be ready to increase its presence in the smartphone chip market in the next year, according to an interview published today with Re/code.

Although Intel has built up its tablet-chip business, it has practically no presence in smartphones.

Separately, TheStreet Ratings team rates INTEL CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate INTEL CORP (INTC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

If you liked this article you might like

7 Essential Rules for Investing in Tech Stocks

Hewlett Packard Enterprise Becomes the Latest Tech Titan to Slash Jobs

Your Guide to Making a Lot of Money on the Driverless Car Boom

Buying Nvidia Now Is Like Getting Intel Way Back in 1993, Jim Cramer Says

Google's Waymo Teams With Intel on Self Driving Technology