Intel (NASDAQ:INTC) Issues Q2 2024 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.100-0.100 for the period, compared to the consensus EPS estimate of 0.240. The company issued revenue guidance of $12.5 billion-$13.5 billion, compared to the consensus revenue estimate of $12.7 billion. Intel also updated its Q2 guidance to $0.10 EPS.

Intel Stock Up 1.8 %

Shares of NASDAQ INTC traded up $0.61 during trading on Thursday, reaching $35.11. The company had a trading volume of 61,054,465 shares, compared to its average volume of 47,184,160. Intel has a 12-month low of $26.85 and a 12-month high of $51.28. The stock has a market cap of $148.45 billion, a PE ratio of 89.03, a P/E/G ratio of 3.08 and a beta of 1.00. The business’s 50-day moving average is $41.29 and its 200 day moving average is $42.30. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts forecast that Intel will post 0.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTC. Barclays upped their price target on Intel from $32.00 to $44.00 and gave the company an equal weight rating in a report on Tuesday, January 16th. HSBC lowered their price target on Intel from $44.00 to $37.00 and set a hold rating on the stock in a report on Tuesday. Susquehanna lowered their price target on Intel from $42.00 to $40.00 and set a neutral rating on the stock in a report on Wednesday, April 17th. UBS Group upped their price target on Intel from $46.00 to $50.00 and gave the company a neutral rating in a report on Monday, April 1st. Finally, The Goldman Sachs Group upped their price target on Intel from $34.00 to $39.00 and gave the company a sell rating in a report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $42.38.

Insider Activity

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