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

Intel Co. (NASDAQ:INTC)’s stock price gapped up before the market opened 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 traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INTC. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Morgan Stanley dropped their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.04.

Intel Price Performance

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

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

Intel Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on 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 link. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intel

Large investors have recently added to or reduced their stakes in the business. DDFG Inc acquired a new position in shares of Intel during the fourth quarter worth about $205,000. Gryphon Financial Partners LLC grew its stake in shares of Intel by 8.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock worth $1,060,000 after purchasing an additional 1,601 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Intel by 3.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after buying an additional 2,915 shares during the last quarter. Congress Wealth Management LLC DE lifted its holdings in Intel by 15.8% during the 4th quarter. Congress Wealth Management LLC DE now owns 19,161 shares of the chip maker’s stock worth $963,000 after buying an additional 2,616 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its stake in Intel by 4.5% during the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after purchasing an additional 247 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.