Intel (NASDAQ:INTC) Issues Q2 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.10 for the period, compared to the consensus EPS 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 Trading Up 1.8 %

Shares of NASDAQ INTC traded up $0.61 during mid-day trading on Thursday, reaching $35.11. 61,054,465 shares of the company’s stock were exchanged, compared to its average volume of 47,184,160. The firm has a market capitalization of $148.45 billion, a price-to-earnings ratio of 89.03, a PEG ratio of 3.08 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 52-week low of $26.85 and a 52-week high of $51.28. The company’s 50-day moving average is $41.29 and its 200-day moving average is $42.30.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. Analysts expect that Intel will post 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on Intel from $34.00 to $39.00 and gave the stock a sell rating in a report on Friday, January 26th. Morgan Stanley increased their target price on Intel from $39.00 to $48.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. HSBC decreased their target price on Intel from $44.00 to $37.00 and set a hold rating on the stock in a research note on Tuesday. UBS Group increased their target price on Intel from $46.00 to $50.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Finally, Truist Financial reissued a hold rating and set a $45.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $42.38.

Insider Activity

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were 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 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 bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

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.