Intel (NASDAQ:INTC) Shares Gap Up to $20.91

Intel Co. (NASDAQ:INTC)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $20.91, but opened at $21.71. Intel shares last traded at $21.34, with a volume of 31,296,010 shares.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research analyst reports. Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Susquehanna dropped their price target on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.04.

Intel Price Performance

The firm’s 50 day moving average is $24.17 and its 200 day moving average is $31.22. The firm has a market cap of $88.42 billion, a P/E ratio of 21.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the company earned ($0.05) EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. As a group, analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.41%. Intel’s payout ratio is presently 52.08%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intel

Several institutional investors and hedge funds have recently made changes to their positions in INTC. DDFG Inc purchased a new stake in shares of Intel during the fourth quarter valued at $205,000. Gryphon Financial Partners LLC boosted its holdings in shares of Intel by 8.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock valued at $1,060,000 after acquiring an additional 1,601 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Intel in the fourth quarter worth approximately $501,000. Hillsdale Investment Management Inc. raised its holdings in shares of Intel by 110.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,250 shares of the chip maker’s stock valued at $264,000 after purchasing an additional 2,760 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in Intel by 69.0% during the fourth quarter. Trexquant Investment LP now owns 71,126 shares of the chip maker’s stock valued at $3,574,000 after purchasing an additional 29,040 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.