Intel (NASDAQ:INTC) Releases Q2 Earnings Guidance

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

Several research analysts have issued reports on INTC shares. TD Cowen dropped their price objective on Intel from $42.00 to $35.00 and set a hold rating for the company in a research note on Friday. Stifel Nicolaus reiterated a hold rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Benchmark restated a buy rating and issued a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Citigroup dropped their price objective on shares of Intel from $47.50 to $40.00 and set a neutral rating for the company in a report on Monday, April 15th. Finally, HSBC reduced their target price on Intel from $44.00 to $37.00 and set a hold rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Intel currently has an average rating of Hold and an average target price of $39.75.

Intel Trading Down 9.2 %

INTC traded down $3.23 during midday trading on Friday, reaching $31.88. 119,742,494 shares of the company 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 stock has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00. The stock’s 50-day simple moving average is $40.88 and its 200 day simple moving average is $42.23. Intel has a one year low of $26.85 and a one year high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion during 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 quarter in the previous year, the company earned $0.10 earnings per share. As a group, analysts forecast that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $43.36 per share, for a total transaction 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 transaction was disclosed in a legal 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 on Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, 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.

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.