Intel (NASDAQ:INTC) Shares Gap Down – Here’s Why

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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on INTC shares. Barclays reduced their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Stifel Nicolaus reduced their price objective on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Finally, Citigroup dropped their target price on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.04.

Intel Trading Down 0.7 %

The business has a fifty day moving average of $21.85 and a 200-day moving average of $21.96. The stock has a market capitalization of $103.75 billion, a price-to-earnings ratio of -5.47 and a beta of 1.02. 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 released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. On average, equities analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Quest Partners LLC boosted its position in shares of 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 purchasing an additional 1,253 shares during the period. Prospera Financial Services Inc boosted its position in Intel by 1.7% during the 3rd quarter. Prospera Financial Services Inc now owns 67,281 shares of the chip maker’s stock worth $1,579,000 after acquiring an additional 1,135 shares during the period. Prospera Private Wealth LLC acquired a new stake in Intel during the 3rd quarter worth about $64,000. Howe & Rusling Inc. boosted its position in Intel by 8.2% during the 3rd quarter. Howe & Rusling Inc. now owns 31,613 shares of the chip maker’s stock worth $742,000 after acquiring an additional 2,396 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in Intel during the 3rd quarter worth about $48,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.