Intel Co. (INTC) Expected to Post Quarterly Sales of $14.41 Billion
Analysts expect that Intel Co. (NASDAQ:INTC) will report $14.41 billion in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Intel’s earnings, with the highest sales estimate coming in at $14.45 billion and the lowest estimate coming in at $14.40 billion. Intel posted sales of $13.53 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The company is scheduled to report its next earnings report after the market closes on Thursday, July 27th.
On average, analysts expect that Intel will report full-year sales of $14.41 billion for the current financial year, with estimates ranging from $59.97 billion to $61.50 billion. For the next fiscal year, analysts forecast that the firm will report sales of $61.82 billion per share, with estimates ranging from $60.08 billion to $64.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Intel.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 27th. The chip maker reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Intel had a return on equity of 20.95% and a net margin of 17.37%. The firm had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.80 billion. During the same period last year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year.
Several research firms have commented on INTC. Citigroup Inc reiterated a “hold” rating on shares of Intel in a report on Saturday, February 11th. B. Riley restated a “buy” rating and set a $44.00 price objective on shares of Intel in a research report on Sunday, February 12th. Pacific Crest restated an “overweight” rating and set a $43.00 price objective on shares of Intel in a research report on Friday, February 10th. Needham & Company LLC restated a “buy” rating on shares of Intel in a research report on Friday, February 10th. Finally, Vetr downgraded shares of Intel from a “buy” rating to a “hold” rating and set a $37.50 price objective for the company. in a research report on Monday, April 3rd. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the stock. Intel has a consensus rating of “Buy” and an average target price of $40.39.
In other news, CFO Robert Holmes Swan acquired 13,888 shares of the stock in a transaction on Monday, June 5th. The stock was bought at an average price of $36.31 per share, with a total value of $504,273.28. Following the completion of the transaction, the chief financial officer now directly owns 8,774 shares of the company’s stock, valued at $318,583.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian M. Krzanich sold 72,172 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $35.21, for a total transaction of $2,541,176.12. Following the completion of the sale, the chief executive officer now directly owns 549,091 shares of the company’s stock, valued at approximately $19,333,494.11. The disclosure for this sale can be found here. Insiders sold 119,993 shares of company stock worth $4,276,027 in the last 90 days. 0.09% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. United Services Automobile Association increased its stake in shares of Intel by 8.3% in the third quarter. United Services Automobile Association now owns 5,936,220 shares of the chip maker’s stock valued at $224,092,000 after buying an additional 452,883 shares during the period. Douglass Winthrop Advisors LLC increased its stake in shares of Intel by 3.1% in the third quarter. Douglass Winthrop Advisors LLC now owns 43,060 shares of the chip maker’s stock valued at $1,626,000 after buying an additional 1,288 shares during the period. Donaldson Capital Management LLC increased its stake in shares of Intel by 7.2% in the third quarter. Donaldson Capital Management LLC now owns 27,668 shares of the chip maker’s stock valued at $1,044,000 after buying an additional 1,855 shares during the period. Advantus Capital Management Inc increased its stake in shares of Intel by 1.1% in the third quarter. Advantus Capital Management Inc now owns 468,018 shares of the chip maker’s stock valued at $17,668,000 after buying an additional 5,278 shares during the period. Finally, Godshalk Welsh Capital Management Inc. increased its stake in shares of Intel by 1.3% in the third quarter. Godshalk Welsh Capital Management Inc. now owns 11,350 shares of the chip maker’s stock valued at $428,000 after buying an additional 150 shares during the period. 65.90% of the stock is owned by institutional investors.
Shares of Intel (INTC) traded down 2.28% during trading on Friday, reaching $35.65. 16,202,035 shares of the company were exchanged. The firm has a market capitalization of $167.88 billion, a PE ratio of 15.43 and a beta of 1.03. The company’s 50-day moving average is $36.23 and its 200 day moving average is $36.11. Intel has a 1-year low of $30.44 and a 1-year high of $38.45.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Sunday, May 7th were issued a $0.2725 dividend. This is a positive change from Intel’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, May 3rd. This represents a $1.09 annualized dividend and a yield of 2.99%. Intel’s dividend payout ratio (DPR) is presently 49.29%.
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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