Intel (NASDAQ:INTC) Updates Q2 Earnings Guidance

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

Intel Stock Down 9.2 %

Shares of INTC stock traded down $3.23 on Friday, reaching $31.88. 119,742,494 shares of the company’s stock traded hands, compared to its average volume of 50,613,192. The business’s 50 day moving average price is $40.88 and its two-hundred day moving average price is $42.23. The company has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. Intel has a 12-month low of $26.85 and a 12-month high of $51.28.

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

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. 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 (DPR) is currently 52.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTC. Roth Mkm dropped their price target on shares of Intel from $45.00 to $35.00 and set a neutral rating on the stock in a research note on Friday. Mizuho dropped their price objective on shares of Intel from $55.00 to $45.00 and set a buy rating for the company in a research note on Friday. Bank of America decreased their target price on shares of Intel from $50.00 to $44.00 and set a neutral rating on the stock in a research report on Friday, April 12th. JPMorgan Chase & Co. dropped their price target on shares of Intel from $37.00 to $35.00 and set an underweight rating for the company in a research report on Friday. Finally, Barclays lowered their price objective on Intel from $44.00 to $40.00 and set an equal weight rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $39.75.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s 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 $1,336,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s 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 purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

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.