Intel (NASDAQ:INTC) Issues 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 Analyst Weigh In

Several analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a hold rating on shares of Intel in a report on Friday. Mizuho cut their price objective on Intel from $55.00 to $45.00 and set a buy rating on the stock in a research report on Friday. Wells Fargo & Company cut their price objective on Intel from $43.00 to $38.00 and set an equal weight rating on the stock in a research report on Friday. Benchmark reaffirmed a buy rating and issued a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Finally, Cantor Fitzgerald reiterated a neutral rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Four equities 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. According to data from MarketBeat.com, Intel presently has a consensus rating of Hold and an average target price of $39.75.

Intel Stock Down 9.2 %

Intel stock traded down $3.23 during midday trading on Friday, reaching $31.88. The company’s stock had a trading volume of 119,742,494 shares, compared to its average volume of 50,613,192. The stock’s 50-day simple moving average is $40.88 and its 200-day simple moving average is $42.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. Intel has a 52-week low of $26.85 and a 52-week high of $51.28. The stock has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a PEG ratio of 2.89 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. On average, sell-side analysts expect that Intel will post 0.6 EPS for the current year.

Intel Announces Dividend

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

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of the business’s stock in a transaction dated 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 acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average cost of $43.36 per share, for a total transaction 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 disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

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.