Intel (NASDAQ:INTC) Updates Q4 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.12 for the period, compared to the consensus estimate of $0.08. The company issued revenue guidance of $13.3-$14.3 billion, compared to the consensus revenue estimate of $13.66 billion. Intel also updated its Q4 2024 guidance to 0.120-0.120 EPS.

Intel Trading Up 7.8 %

INTC stock traded up $1.68 during midday trading on Friday, reaching $23.20. The stock had a trading volume of 173,471,115 shares, compared to its average volume of 53,975,400. The firm has a market cap of $99.20 billion, a price-to-earnings ratio of -6.24 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel has a twelve month low of $18.51 and a twelve month high of $51.28. The business has a fifty day simple moving average of $21.79 and a two-hundred day simple moving average of $26.90.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a negative net margin of 29.42% and a negative return on equity of 1.68%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the firm posted ($0.05) EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, research analysts expect that Intel will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INTC has been the topic of several analyst reports. Truist Financial increased their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday. UBS Group decreased their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Morgan Stanley decreased their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $30.12.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 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.