Intel (NASDAQ:INTC) Issues Q2 2024 Earnings Guidance

Intel (NASDAQ:INTC) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.100-0.100 for the period, compared to the consensus EPS estimate of 0.240. The company issued revenue guidance of $12.5 billion-$13.5 billion, compared to the consensus revenue estimate of $12.7 billion. Intel also updated its Q2 guidance to $0.10 EPS.

Intel Stock Down 9.2 %

INTC stock traded down $3.23 during mid-day trading on Friday, hitting $31.88. 119,742,494 shares of the company were exchanged, compared to its average volume of 50,613,192. The company has a market capitalization of $134.79 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. The firm has a fifty day simple moving average of $40.88 and a 200 day simple moving average of $42.27. Intel has a twelve month low of $26.85 and a twelve month high of $51.28. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released 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 business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, research analysts forecast that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.57%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Wall Street Analyst Weigh In

Several research analysts have commented on INTC shares. TD Cowen decreased their target price on shares of Intel from $42.00 to $35.00 and set a hold rating for the company in a research report on Friday. Wedbush decreased their price objective on Intel from $40.00 to $32.50 and set a neutral rating for the company in a report on Friday. HSBC lowered their target price on Intel from $44.00 to $37.00 and set a hold rating on the stock in a research report on Tuesday, April 23rd. Raymond James reduced their price target on Intel from $54.00 to $52.00 and set an outperform rating for the company in a research report on Friday, January 26th. Finally, The Goldman Sachs Group decreased their price target on Intel from $39.00 to $34.00 and set a sell rating for the company in a research note on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Intel has an average rating of Hold and a consensus price target of $39.75.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. 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.