Intel (NASDAQ:INTC) Issues Q2 Earnings Guidance

Intel (NASDAQ:INTCGet Rating) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.83. The company issued revenue guidance of $18.0 billion, compared to the consensus revenue estimate of $18.54 billion.Intel also updated its FY22 guidance to $3.60 EPS.

Shares of INTC stock traded down $3.25 during trading on Friday, reaching $43.59. 70,726,586 shares of the company’s stock were exchanged, compared to its average volume of 28,566,700. The company has a quick ratio of 1.71, a current ratio of 2.10 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average price is $47.45 and its 200-day moving average price is $49.65. Intel has a twelve month low of $43.50 and a twelve month high of $58.43. The stock has a market capitalization of $178.22 billion, a PE ratio of 7.24, a PEG ratio of 1.74 and a beta of 0.55.

Intel (NASDAQ:INTCGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The chip maker reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Intel had a return on equity of 25.52% and a net margin of 25.14%. The firm had revenue of $18.40 billion for the quarter, compared to analyst estimates of $18.32 billion. During the same period in the prior year, the firm posted $1.39 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, analysts anticipate that Intel will post 3.47 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Saturday, May 7th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Thursday, May 5th. Intel’s dividend payout ratio is 24.25%.

INTC has been the topic of a number of research reports. JPMorgan Chase & Co. set a $64.00 price objective on Intel in a report on Thursday, January 27th. Sanford C. Bernstein set a $40.00 price objective on Intel in a report on Friday. Citigroup reduced their target price on Intel from $58.00 to $55.00 and set a neutral rating on the stock in a report on Thursday, January 27th. StockNews.com lowered Intel from a strong-buy rating to a buy rating in a report on Friday. Finally, The Goldman Sachs Group set a $41.00 target price on Intel in a report on Monday, March 28th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $54.25.

In other news, CEO Patrick P. Gelsinger acquired 5,600 shares of Intel stock in a transaction dated Tuesday, February 22nd. The shares were bought at an average cost of $44.27 per share, with a total value of $247,912.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven Ralph Rodgers sold 3,863 shares of the company’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $48.81, for a total transaction of $188,553.03. The disclosure for this sale can be found here. Insiders own 0.02% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in INTC. Bank of New York Mellon Corp lifted its position in shares of Intel by 4.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 41,547,519 shares of the chip maker’s stock valued at $2,213,654,000 after acquiring an additional 1,756,206 shares during the period. Morgan Stanley raised its holdings in Intel by 5.3% during the second quarter. Morgan Stanley now owns 27,235,326 shares of the chip maker’s stock worth $1,528,991,000 after buying an additional 1,378,548 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Intel by 50.6% during the fourth quarter. NewEdge Advisors LLC now owns 144,284 shares of the chip maker’s stock worth $7,431,000 after buying an additional 48,458 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Intel by 5.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 582,892 shares of the chip maker’s stock worth $30,760,000 after buying an additional 32,473 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new position in Intel during the third quarter worth $727,000. Institutional investors own 61.73% of the company’s stock.

Intel Company Profile (Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

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Earnings History and Estimates for Intel (NASDAQ:INTC)

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