Intel (NASDAQ:INTC) Shares Gap Up to $20.13

Intel Co. (NASDAQ:INTC) gapped up prior to trading on Friday . The stock had previously closed at $20.13, but opened at $21.25. Intel shares last traded at $21.71, with a volume of 20,842,311 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on INTC. The Goldman Sachs Group dropped their price objective on Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Mizuho cut Intel from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Morgan Stanley dropped their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Roth Mkm decreased their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Benchmark lowered Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.04.

Intel Price Performance

The stock has a market cap of $93.06 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 17.38 and a beta of 1.05. The company has a 50-day moving average of $27.63 and a 200-day moving average of $33.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel (NASDAQ:INTC) last issued its quarterly earnings results 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). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. As a group, equities research analysts predict that Intel Co. will post 0.07 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.29%. The ex-dividend date is Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity at Intel

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

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. America First Investment Advisors LLC purchased a new stake in shares of Intel during the 2nd quarter worth approximately $25,000. Frazier Financial Advisors LLC purchased a new stake in Intel in the 4th quarter valued at approximately $27,000. Burkett Financial Services LLC purchased a new stake in Intel in the 4th quarter valued at approximately $27,000. Tributary Capital Management LLC purchased a new stake in Intel in the 1st quarter valued at approximately $27,000. Finally, Cyrus J. Lawrence LLC purchased a new stake in Intel in the 2nd quarter valued at approximately $27,000. Institutional investors and hedge funds 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.