Intel (NASDAQ:INTC) Shares Gap Up - Time to Buy?

Key Points

• Intel shares gapped up from a previous close of $23.86 to open at $25.01, with the last traded price at $24.75 and a significant trading volume of over 93 million shares.
• The stock has received mixed ratings from analysts, with a consensus rating of "Hold" and an average price target of $22.17, reflecting lowered objectives by multiple firms.
• In its most recent earnings report, Intel reported a loss of ($0.10) EPS, missing expectations, though revenue rose to $12.86 billion, slightly above forecasts.

Shares of Intel Corporation (NASDAQ:INTC - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $23.86, but opened at $25.01. Intel shares last traded at $24.75, with a volume of 93,263,162 shares trading hands.

Analysts Set New Price Targets

INTC has been the topic of several recent analyst reports. Benchmark reaffirmed a "hold" rating on shares of Intel in a research note on Friday, July 25th. Rosenblatt Securities reaffirmed a "sell" rating and issued a $14.00 price target on shares of Intel in a research note on Friday, July 25th. Seaport Res Ptn raised Intel to a "strong sell" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on Intel from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. Finally, Cantor Fitzgerald reduced their price objective on Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Six research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.17.

Intel Trading Up 2.9%

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. The stock has a market capitalization of $107.50 billion, a price-to-earnings ratio of -5.15 and a beta of 1.22. The business has a 50 day simple moving average of $21.81 and a 200-day simple moving average of $21.56.

Intel (NASDAQ:INTC - Get Free Report) last posted its earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The business had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. During the same period in the previous year, the firm posted $0.02 earnings per share. The firm's revenue was up .5% on a year-over-year basis. As a group, equities analysts expect that Intel Corporation will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Intel by 2.3% during the second quarter. Vanguard Group Inc. now owns 385,903,735 shares of the chip maker's stock worth $8,644,244,000 after buying an additional 8,513,298 shares in the last quarter. State Street Corp grew its holdings in shares of Intel by 1.6% during the second quarter. State Street Corp now owns 203,617,629 shares of the chip maker's stock worth $4,561,035,000 after buying an additional 3,168,824 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Intel by 1.8% during the second quarter. Geode Capital Management LLC now owns 97,563,079 shares of the chip maker's stock worth $2,174,854,000 after buying an additional 1,760,773 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Intel by 4.3% during the second quarter. Primecap Management Co. CA now owns 80,298,180 shares of the chip maker's stock worth $1,798,679,000 after buying an additional 3,313,890 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Intel during the second quarter worth about $1,579,378,000. 64.53% of the stock is 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.