Intel (NASDAQ:INTC) Updates Q2 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.10 for the period, compared to the consensus 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

INTC has been the topic of several research reports. Citigroup cut their target price on Intel from $47.50 to $40.00 and set a neutral rating on the stock in a research note on Monday, April 15th. Morgan Stanley reduced their target price on shares of Intel from $48.00 to $36.00 and set an equal weight rating for the company in a report on Friday. Susquehanna lowered their price target on shares of Intel from $40.00 to $35.00 and set a neutral rating on the stock in a research note on Friday. The Goldman Sachs Group reduced their price objective on shares of Intel from $39.00 to $34.00 and set a sell rating for the company in a research note on Friday. Finally, Roth Mkm lowered their target price on Intel from $45.00 to $35.00 and set a neutral rating on the stock in a research report on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $39.75.

Intel Stock Performance

NASDAQ:INTC traded down $3.23 during mid-day trading on Friday, reaching $31.88. 119,742,494 shares of the company’s stock were exchanged, compared to its average volume of 50,613,192. 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 firm has a market capitalization of $134.79 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. Intel has a one year low of $26.85 and a one year high of $51.28. The business’s fifty day simple moving average is $40.88 and its two-hundred day simple moving average is $42.23.

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

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.57%. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity

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