Intel (NASDAQ:INTC) Shares Gap Up to $21.84

Intel Co. (NASDAQ:INTC) gapped up prior to trading on Monday . The stock had previously closed at $21.84, but opened at $22.43. Intel shares last traded at $22.43, with a volume of 46,800,246 shares.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial dropped their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. Finally, Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Six equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.04.

Intel Price Performance

The firm has a 50-day moving average of $23.67 and a 200-day moving average of $30.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock has a market cap of $95.70 billion, a PE ratio of 23.29 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its 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). The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. Research analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently made changes to their positions in INTC. America First Investment Advisors LLC purchased a new stake in Intel in the 2nd quarter worth about $25,000. Burkett Financial Services LLC bought a new position in Intel in the 4th quarter valued at $27,000. Tributary Capital Management LLC purchased a new stake in Intel in the first quarter worth $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel during the second quarter worth $27,000. Finally, Spartan Fund Management Inc. purchased a new stake in shares of Intel during the second quarter valued at $31,000. Hedge funds and other 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.