Intel (INTC) Intends to appeal against Court order for Violation of VLSI Tech

In the last quarter, Intel’s (INTC) share price rose 29%. On Tuesday, Intel fell 2.6% after Federal Judge Jim Davis ruled the company must pay $2.18 billion in chip patent infringement.

VLSI Technology owns two patents that were allegedly infringed by Intel (INTC). Patents such as these are geared towards increasing the power and speed of processors, a crucial issue in today’s competitive market.

Intel (INTC)  has violated these patents with more than 1.5 billion processors,” the prosecutor stated.

Intel states that it has not infringed on any of the patents and that one patent was invalid, and that it was engineers on Intel who implemented the technology.

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Nevertheless, the company said it will appeal the court’s ruling and “firmly disagrees with its decision.”The company would be hit with an estimated fine of $2.18 billion if the appeal is lost.

Even though the company faced manufacturing problems and fierce competition, it ended fiscal 2020 with a strong profit, allowing the company to distribute a strong dividend and generate a free cash flow of approximately $21.1 billion in the process. Therefore, even if a fine of $ 2.18 billion is applied to the company, this won’t affect its overall performance significantly.

The market capitalization of Intel Corporation (NASDAQ: INTC) stands at $241.85B and the company’s share price is declining by 2.19% or $1.34 in the last trading session. Despite this, stock returns over the last year are still nearly 7.02% higher. As a result, the year-to-date stock price is up 20.23%, while the trailing-three-month period is up 23.89%. Taking the shorter time frame into account, its performance during the week dipped -5.21%, and over the month dropped 5.66%.

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