Why Intel stock popped today

Shares of Intel (INTC 8.13%) moved higher today on reports that the legacy chip giant could be acquired.

While the buzz is just a rumor at this point, it was enough to send the stock up 8.2% as of 1 p.m. 11:41 a.m. ET.

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Rumors of Intel acquisitions are swirling again

A website that follows the semiconductor industry called SemiAccurate said its sources claimed an unnamed company was trying to buy Intel.

SemiAccurate said it read an email the acquirer sent to a small group of executives about buying Intel outright and is now 90% confident the plan is real.

This is not the first time that rumors of an acquisition have swirled as Intel has struggled. Qualcomm was also reportedly interested in buying Intel in September, or at least its chip-design division, although interest is said to have waned by November.

Can Intel be bought?

Given the decline in the share price and its significant assets, as well as brand name, an acquisition of Intel is certainly not far-fetched.

Intel has not said it is looking to be acquired, but the company is currently without a permanent CEO and the stock has been in freefall, losing 60% of its value last year.

Today’s pop is a little surprising as SemiAccurate is not a well-known publisher and no other news source has confirmed the news. But investors are clearly eager for good news about Intel, whether it’s an acquisition or something else.

So far, I wouldn’t bet on the company being acquired, but a long-term buyout is definitely a possibility.