Intel (NASDAQ:INTC) Updates Q2 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTC. Susquehanna dropped their target price on shares of Intel from $42.00 to $40.00 and set a neutral rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company dropped their target price on shares of Intel from $48.00 to $43.00 and set an equal weight rating on the stock in a report on Tuesday, April 9th. UBS Group boosted their target price on shares of Intel from $46.00 to $50.00 and gave the company a neutral rating in a report on Monday, April 1st. Barclays lifted their price target on Intel from $32.00 to $44.00 and gave the stock an equal weight rating in a research report on Tuesday, January 16th. Finally, Truist Financial reaffirmed a hold rating and issued a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Intel currently has an average rating of Hold and a consensus target price of $42.38.

Intel Price Performance

INTC traded up $0.61 during trading on Thursday, reaching $35.11. 61,054,465 shares of the company traded hands, compared to its average volume of 47,184,160. 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 12-month low of $26.85 and a 12-month high of $51.28. The firm has a fifty day simple moving average of $41.29 and a 200 day simple moving average of $42.30. The company has a market cap of $148.45 billion, a P/E ratio of 89.03, a PEG ratio of 3.08 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced 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. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. During the same period last year, the firm posted $0.10 EPS. The company’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Intel will post 0.61 EPS for the current year.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently 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.