Intel (NASDAQ:INTC) Releases Q2 Earnings Guidance

Intel (NASDAQ:INTC) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.10 for the period, compared to the consensus EPS estimate of $0.25. The company issued revenue guidance of $12.5-13.5 billion, compared to the consensus revenue estimate of $13.61 billion. Intel also updated its Q2 2024 guidance to 0.100-0.100 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Intel from $46.00 to $50.00 and gave the company a neutral rating in a report on Monday, April 1st. Roth Mkm cut their target price on shares of Intel from $45.00 to $35.00 and set a neutral rating for the company in a research report on Friday. The Goldman Sachs Group reduced their price objective on Intel from $39.00 to $34.00 and set a sell rating for the company in a research report on Friday. Wedbush lowered their price objective on shares of Intel from $40.00 to $32.50 and set a neutral rating on the stock in a research note on Friday. Finally, Needham & Company LLC restated a hold rating on shares of Intel in a research report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $39.75.

Intel Price Performance

NASDAQ:INTC traded down $3.23 during trading hours on Friday, reaching $31.88. The stock had a trading volume of 119,742,494 shares, compared to its average volume of 50,613,192. The stock has a market capitalization of $134.79 billion, a PE ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The company has a 50 day moving average price of $40.88 and a two-hundred day moving average price of $42.23.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Patrick P. Gelsinger acquired 3,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Intel Company Profile

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.