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

Intel Co. (NASDAQ:INTC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $27.39, but opened at $25.98. Intel shares last traded at $25.80, with a volume of 35,658,448 shares trading hands.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of research analyst reports. UBS Group dropped their price target on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Roth Mkm dropped their price target on Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Barclays dropped their price target 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. Wells Fargo & Company dropped their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, Stifel Nicolaus dropped their price target on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price of $26.88.

Intel Stock Performance

The company has a market cap of $107.67 billion, a price-to-earnings ratio of -5.68 and a beta of 1.08. The firm has a 50-day simple moving average of $20.75 and a 200 day simple moving average of $21.62. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its quarterly earnings results 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 return on equity of 3.27% and a negative net margin of 35.32%. On average, sell-side analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC increased its holdings in shares of Intel by 7,370.6% in the third 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. Finley Financial LLC acquired a new position in shares of Intel in the fourth quarter valued at approximately $25,000. Vermillion Wealth Management Inc. acquired a new position in shares of Intel in the fourth quarter valued at approximately $27,000. Synergy Investment Management LLC acquired a new position in shares of Intel in the fourth quarter valued at approximately $27,000. Finally, BankPlus Trust Department acquired a new position in shares of Intel in the fourth quarter valued at approximately $28,000. 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.