Intel Corporation (NASDAQ: INTC) shares have weakened from $30.09 to $25.35 since December 13, 2022, and the current price stands at $26.09.

Intel’s business remains stable, the dividend yield is above 5% at the current share price, and this stock may be a good choice for long-term investors.

Intel is the world’s largest manufacturer of microprocessors for the global PC and data center markets, and despite some challenges since the start of the year, the company remains well-positioned for future growth.

The company reported solid third-quarter results in October; total revenue has decreased by -15.5% Y/Y to $15.3 billion, while the non-GAAP earnings per share were $0.59 (beats by $0.26). Pat Gelsinger, the Intel CEO, said:

CEO Pat Gelsinger also said that he expects $3 billion in cost savings in the 2023 year and $8 to $10 billion in savings by the end of 2025.

Even though the company’s business remains stable, the share price of Intel has been battered in the year 2022, and it’s now trading near a multi-year low.

The recent drop in share price has pushed its dividend yield again above 5%, and this stock may be a good choice for long-term investors.

It is also important to note that Intel directors have been large purchasers of the company’s shares this year, and while insider purchases shouldn’t be taken in a vacuum as a bullish signal, it is encouraging to see these purchases.

Now let’s take a look at fundamentals. With a market capitalization of $107.67 billion, Intel is inexpensive, and compared to Advanced Micro Devices, Inc. (NASDAQ: AMD), Intel is cheaper on a price-to-sales basis.

According price-to-sales ratio (market capitalization/revenues), Intel shares are trading at 1.54, which is nearly three times lower than the price-to-sales ratio of AMD, which is trading at a P/S of 4.56.

It is also important to mention that International Business Machines Corporation (NYSE: IBM) trades at more than two this year’s sales and more than ten times TTM EBITDA.

Intel trades at less than six times TTM EBITDA, the company maintains a strong A+ rated balance sheet, and at the current price, it presents an attractive buying opportunity.

Intel’s share price has weakened more than 50% after reaching the highest level in 2022 of $56.28 on January 12, and according to technical analysis, the risk of further decline still persists.

The current support level stands at $25, while $30 represents the first resistance level. If the price falls below $25, it would be a “sell” signal, and we have the open way to $23 or even below.

On the other side, if the price jumps above $30, the next target could be $35.

Even though the company’s business remains stable, the share price of Intel has been battered in 2022 year, and it’s now trading near a multi-year low. Intel trades at less than six times TTM EBITDA, the dividend yield is above 5% at the current share price, and for investors looking for an attractive dividend, this stock may be a good choice.

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