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

Intel Co. (NASDAQ:INTC)’s share price gapped up before the market opened 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 trading hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INTC. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Finally, Wedbush decreased their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Stock Up 4.6 %

The firm has a market capitalization of $93.14 billion, a PE ratio of 23.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The firm’s 50-day moving average is $24.71 and its 200 day moving average is $31.45.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS 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 the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. As a group, research analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.29%. Intel’s dividend payout ratio is 52.08%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several large investors have recently bought and sold shares of INTC. Burkett Financial Services LLC purchased a new stake in shares of Intel in the fourth quarter worth approximately $27,000. Frazier Financial Advisors LLC bought a new stake in Intel in the fourth quarter valued at $27,000. Tributary Capital Management LLC bought a new stake in shares of Intel during the 1st quarter valued at $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Intel in the 1st quarter worth about $36,000. Finally, America First Investment Advisors LLC purchased a new position in Intel in the second quarter worth about $25,000. 64.53% of the stock is currently owned by 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.