Intel (NASDAQ:INTC) Shares Gap Up – Here’s What Happened

Intel Co. (NASDAQ:INTC) shares gapped up before the market opened on Wednesday . The stock had previously closed at $20.97, but opened at $21.98. Intel shares last traded at $21.71, with a volume of 48,766,741 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently commented on INTC. Northland Securities cut their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Truist Financial dropped their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Stifel Nicolaus dropped their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $20.00 price target on shares of Intel in a research report on Thursday, January 30th. Five research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.60.

Intel Stock Up 5.3 %

The company has a market cap of $95.60 billion, a price-to-earnings ratio of -5.04 and a beta of 1.08. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $20.20 and its 200-day moving average price is $21.70.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Sell-side analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Intel

Several institutional investors have recently added to or reduced their stakes in INTC. Finley Financial LLC bought a new stake in Intel in the 4th quarter valued at $25,000. Synergy Investment Management LLC bought a new stake in Intel during the 4th quarter worth about $27,000. BankPlus Trust Department bought a new stake in Intel during the 4th quarter worth about $28,000. Keystone Financial Group Inc. bought a new stake in Intel during the 4th quarter worth about $29,000. Finally, Quest Partners LLC lifted its position in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares in the last quarter. 64.53% of the stock is owned by 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.