$18.04 Billion in Sales Expected for Intel Co. (NASDAQ:INTC) This Quarter

Analysts expect that Intel Co. (NASDAQ:INTC) will post $18.04 billion in sales for the current quarter, according to Zacks. Twelve analysts have provided estimates for Intel’s earnings, with the lowest sales estimate coming in at $17.90 billion and the highest estimate coming in at $18.30 billion. Intel reported sales of $19.16 billion in the same quarter last year, which would suggest a negative year over year growth rate of 5.8%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Intel will report full year sales of $69.37 billion for the current financial year, with estimates ranging from $68.83 billion to $70.00 billion. For the next year, analysts forecast that the business will post sales of $70.87 billion, with estimates ranging from $65.95 billion to $73.92 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Intel.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The firm had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $15.70 billion. During the same period in the prior year, the firm earned $1.04 EPS. The company’s revenue was down 2.7% compared to the same quarter last year.

A number of research firms have recently weighed in on INTC. Benchmark began coverage on shares of Intel in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. Zacks Investment Research raised shares of Intel from a “sell” rating to a “hold” rating and set a $54.00 price objective for the company in a report on Monday, July 29th. Atlantic Securities assumed coverage on shares of Intel in a report on Monday, July 22nd. They issued an “underweight” rating and a $38.00 price objective for the company. Macquarie set a $60.00 price objective on shares of Intel and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Bank of America cut their price objective on shares of Intel from $62.00 to $57.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nineteen have issued a buy rating to the stock. Intel currently has a consensus rating of “Hold” and an average price target of $54.19.

In other news, Director Frank D. Yeary sold 2,509 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.92, for a total transaction of $127,758.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Navin Shenoy sold 8,552 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $46.78, for a total transaction of $400,062.56. Following the sale, the executive vice president now owns 68,833 shares in the company, valued at approximately $3,220,007.74. The disclosure for this sale can be found here. Insiders sold a total of 36,524 shares of company stock worth $1,844,221 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BKD Wealth Advisors LLC lifted its position in Intel by 4.2% during the 4th quarter. BKD Wealth Advisors LLC now owns 56,172 shares of the chip maker’s stock valued at $2,636,000 after acquiring an additional 2,276 shares during the period. Joel Isaacson & Co. LLC lifted its position in Intel by 66.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 35,796 shares of the chip maker’s stock valued at $1,751,000 after acquiring an additional 14,304 shares during the period. PFG Advisors purchased a new position in Intel during the 4th quarter valued at about $859,000. First National Bank & Trust Co. of Newtown lifted its position in Intel by 1.2% during the 4th quarter. First National Bank & Trust Co. of Newtown now owns 65,315 shares of the chip maker’s stock valued at $3,065,000 after acquiring an additional 800 shares during the period. Finally, Nachman Norwood & Parrott Inc purchased a new position in Intel during the 4th quarter valued at about $1,951,000. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Shares of Intel stock traded down $0.17 on Thursday, reaching $45.70. 21,636,215 shares of the company traded hands, compared to its average volume of 23,761,705. Intel has a 52 week low of $42.36 and a 52 week high of $59.59. The company has a 50 day moving average of $48.87 and a 200 day moving average of $50.20. The firm has a market capitalization of $202.01 billion, a PE ratio of 9.98, a PEG ratio of 1.39 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 1.04.

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, August 6th. Intel’s dividend payout ratio is presently 27.51%.

About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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