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 changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on INTC. TD Cowen raised Intel to a “hold” rating in a research report on Monday. Morgan Stanley lowered their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald decreased their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $35.00 to $23.00 in a research 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.04.

Intel Price Performance

The stock has a market capitalization of $93.14 billion, a P/E ratio of 23.10 and a beta of 1.03. The company’s 50-day simple moving average is $24.71 and its 200-day simple moving average is $31.45. 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 issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the firm posted ($0.05) EPS. Intel’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

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

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently modified their holdings of the business. DDFG Inc purchased a new stake in shares of Intel in the fourth quarter valued at approximately $205,000. Gryphon Financial Partners LLC grew its position in shares of Intel by 8.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock valued at $1,060,000 after purchasing an additional 1,601 shares during the last quarter. Brown Advisory Inc. increased its position in Intel by 3.0% during the fourth quarter. Brown Advisory Inc. now owns 534,068 shares of the chip maker’s stock worth $26,837,000 after purchasing an additional 15,796 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Intel during the 4th quarter worth $501,000. Finally, Hillsdale Investment Management Inc. raised its stake in shares of Intel by 110.8% in the 4th 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 in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

About Intel

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.