Intel (NASDAQ:INTC) Updates Q2 2024 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. 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 Performance

Shares of INTC stock traded down $3.23 during trading hours on Friday, reaching $31.88. The company had a trading volume of 119,742,494 shares, compared to its average volume of 50,613,192. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The business has a fifty day moving average price of $40.88 and a 200-day moving average price of $42.27. Intel has a one year low of $26.85 and a one year high of $51.28. The firm has a market cap 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.

Intel (NASDAQ:INTC) last announced 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 business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Sell-side analysts predict that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

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 given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INTC. Wedbush cut their price target on Intel from $40.00 to $32.50 and set a neutral rating for the company in a research note on Friday. Benchmark restated a buy rating and set a $62.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Stifel Nicolaus restated a hold rating and issued a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Raymond James cut their price target on Intel from $54.00 to $52.00 and set an outperform rating for the company in a report on Friday, January 26th. Finally, Morgan Stanley reduced their price target on Intel from $48.00 to $36.00 and set an equal weight rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $39.75.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average price of $43.36 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average cost of $43.36 per share, with a total value 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 $1,234,676. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

About Intel

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.