"We Respect IP": Intel Stock (NASDAQ:INTC) Gains as Lip-Bu Tan Addresses Wei-Jen Lo Matter

Chip stock Intel (INTC) found itself in the middle of a bit of unexpected controversy as reports emerged suggesting that former Taiwan Semiconductor Manufacturing Corp. (TSM) officer Wei-Jen Lo had already jumped ship and signed on with Intel. The reports that he also brought with him notes about Taiwan Semiconductor's production processes did not help matters much. But Lip-Bu Tan addressed the matter directly recently, and investors applauded Intel's principled public stance. In fact, Intel gained nearly 3.5% in Friday afternoon's trading.TipRanks Black Friday Sale Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence. Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off Lip-Bu Tan spoke to Bloomberg News about the matter, and laid it out about as cleanly as he could, saying, "It's rumor and speculation. There's nothing to it. We respect IP." Tan here refers to the reports that Wei-Jen Lo, who had been retired from Taiwan Semiconductor since July, joined up with Intel, and brought with him much of what he knows about Taiwan Semiconductor's manufacturing processes. An investigation is already underway, reports note, to find out just what Wei-Jen Lo knows, and how much of it could represent "national security implications," according to Kung Ming-hsin, an economic affairs minister in Taiwan. But given his most recent position, and the fact that Lo was also a former Intel employee, getting him in the fold—even without any kind of IP shenanigans—should represent a significant leap forward for Intel. Yields on the Rise Meanwhile, reports note that Intel's 18A processes are up and running in a very big way, as Panther Lake yields are rising at a rate of about 7% per month, according to Corporate Planning and Investor Relations vice president John Pitzer. By industry standards, this is on par with a "…healthy ramp-up," which is welcome news for Intel. In fact, reports note, should this growth rate continue for the next few months, then Intel may be able to get Panther Lake into volume production tiers without needing to increase its costs per unit. That will also be welcome, as Intel can keep its costs to end users low accordingly and potentially win back some lost market share. Is Intel a Buy, Hold or Sell? Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on three Buys, 25 Holds and six Sells assigned in the past three months, as indicated by the graphic below. After a 37.22% rally in its share price over the past year, the average INTC price target of $35.61 per share implies 2.59% upside potential.