Intel (NASDAQ:INTC) Shares Gap Down – What’s Next?

Intel Co. (NASDAQ:INTC) shares gapped down before the market opened on Wednesday . The stock had previously closed at $25.92, but opened at $24.90. Intel shares last traded at $24.48, with a volume of 19,626,843 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on INTC shares. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, January 31st. Truist Financial lowered 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. Wells Fargo & Company cut their price objective on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $19.00 to $25.00 in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average target price of $27.04.

Intel Stock Performance

The stock has a market capitalization of $105.60 billion, a price-to-earnings ratio of -5.56 and a beta of 1.02. The firm has a fifty day moving average of $21.68 and a 200 day moving average of $21.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. On average, sell-side analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intel

Institutional investors have recently modified their holdings of the business. Quest Partners LLC grew its stake in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the period. Prospera Financial Services Inc lifted its holdings in Intel by 1.7% during the third quarter. Prospera Financial Services Inc now owns 67,281 shares of the chip maker’s stock valued at $1,579,000 after purchasing an additional 1,135 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intel in the third quarter valued at about $6,698,000. Premier Fund Managers Ltd increased its stake in shares of Intel by 62.3% during the third quarter. Premier Fund Managers Ltd now owns 248,678 shares of the chip maker’s stock worth $5,942,000 after purchasing an additional 95,429 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Intel during the 3rd quarter worth about $64,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.