Intel Corporation (INTC) Expected to Announce Quarterly Sales of $15.71 Billion
Wall Street analysts predict that Intel Corporation (NASDAQ:INTC) will post $15.71 billion in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have issued estimates for Intel Corporation’s earnings. The highest sales estimate is $15.77 billion and the lowest is $15.70 billion. Intel Corporation reported sales of $15.78 billion in the same quarter last year, which would indicate a negative year over year growth rate of 0.4%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, October 26th.
On average, analysts expect that Intel Corporation will report full year sales of $15.71 billion for the current financial year, with estimates ranging from $60.18 billion to $61.76 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $62.83 billion per share, with estimates ranging from $61.07 billion to $64.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Intel Corporation.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share.
A number of analysts have recently weighed in on INTC shares. Zacks Investment Research raised shares of Intel Corporation from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Wednesday, September 6th. ValuEngine lowered shares of Intel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Vetr raised shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $41.56 price target for the company in a research note on Thursday, August 24th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Intel Corporation in a research note on Thursday, August 31st. Finally, BidaskClub raised shares of Intel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $40.54.
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In related news, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $34.65, for a total transaction of $56,791.35. Following the transaction, the executive vice president now directly owns 114,542 shares of the company’s stock, valued at approximately $3,968,880.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.40, for a total value of $51,833.60. Following the transaction, the insider now directly owns 1,536 shares in the company, valued at $55,910.40. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock valued at $3,130,162 in the last quarter. 0.08% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in INTC. Janus Henderson Group PLC raised its holdings in shares of Intel Corporation by 4,951.1% during the 2nd quarter. Janus Henderson Group PLC now owns 20,455,051 shares of the chip maker’s stock valued at $690,156,000 after buying an additional 20,050,088 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Intel Corporation by 9.1% during the 2nd quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock valued at $4,338,344,000 after buying an additional 10,744,753 shares in the last quarter. Capital World Investors raised its holdings in shares of Intel Corporation by 5.5% during the 2nd quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock valued at $6,672,097,000 after buying an additional 10,257,260 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Intel Corporation by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock valued at $11,252,292,000 after buying an additional 8,087,302 shares in the last quarter. Finally, Glenview Capital Management LLC purchased a new position in shares of Intel Corporation during the 1st quarter valued at about $177,881,000. 67.03% of the stock is currently owned by institutional investors.
Intel Corporation (NASDAQ INTC) opened at 37.20 on Friday. The firm has a 50-day moving average of $35.74 and a 200-day moving average of $35.53. Intel Corporation has a one year low of $33.23 and a one year high of $38.45. The stock has a market capitalization of $174.80 billion, a PE ratio of 14.20 and a beta of 1.02.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s dividend payout ratio is presently 41.76%.
Intel Corporation Company Profile
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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