Intel (NASDAQ:INTC) Shares Gap Down - Here's Why

Intel Co. (NASDAQ:INTC - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $20.75, but opened at $20.27. Intel shares last traded at $20.64, with a volume of 18,703,699 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Intel from $26.00 to $23.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company decreased their price objective on Intel from $28.00 to $25.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, January 31st. Rosenblatt Securities reiterated a "sell" rating and set a $20.00 price target on shares of Intel in a report on Thursday, January 30th. Finally, Stifel Nicolaus reduced their price target on Intel from $25.00 to $21.00 and set a "hold" rating for the company in a report on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $26.88.

Intel Stock Down 0.5 %

The business's fifty day moving average is $21.30 and its two-hundred day moving average is $21.81. The company has a market cap of $89.37 billion, a P/E ratio of -4.71 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

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Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data 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%. Equities analysts predict that Intel Co. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Intel

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock worth $113,244,000 after buying an additional 204,200 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Intel during the third quarter worth approximately $36,000. CWA Asset Management Group LLC acquired a new stake in shares of Intel during the third quarter worth $410,000. Corrado Advisors LLC lifted its holdings in shares of Intel by 41.0% during the third quarter. Corrado Advisors LLC now owns 66,426 shares of the chip maker's stock worth $1,558,000 after purchasing an additional 19,306 shares during the period. Finally, Wealth Quarterback LLC lifted its holdings in shares of Intel by 246.5% during the third quarter. Wealth Quarterback LLC now owns 24,950 shares of the chip maker's stock worth $585,000 after purchasing an additional 17,749 shares during the period. Hedge funds and other institutional investors 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.