Equities analysts expect that Intel Co. (NASDAQ:INTC) will post sales of $18.04 billion for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for Intel’s earnings. The lowest sales estimate is $17.90 billion and the highest is $18.30 billion. Intel reported sales of $19.16 billion in the same quarter last year, which would suggest a negative year over year growth rate of 5.8%. The firm is expected to announce its next earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Intel will report full-year sales of $69.37 billion for the current year, with estimates ranging from $68.83 billion to $70.00 billion. For the next fiscal year, analysts expect that the business will report sales of $70.87 billion, with estimates ranging from $65.95 billion to $73.92 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Intel.
Intel (NASDAQ:INTC) last released its earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The business had revenue of $16.51 billion during the quarter, compared to analyst estimates of $15.70 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year.
A number of brokerages recently issued reports on INTC. Roth Capital set a $60.00 price objective on shares of Intel and gave the company a “buy” rating in a report on Friday, July 26th. Jefferies Financial Group set a $40.00 price objective on shares of Intel and gave the company a “sell” rating in a report on Friday, July 26th. ValuEngine lowered shares of Intel from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Northland Securities upped their price objective on shares of Intel from $38.00 to $48.00 and gave the company an “under perform” rating in a report on Friday, July 26th. Finally, Atlantic Securities began coverage on shares of Intel in a report on Monday, July 22nd. They issued an “underweight” rating and a $38.00 price objective for the company. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.19.
In other Intel news, Chairman Andy D. Bryant sold 13,609 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $51.37, for a total transaction of $699,094.33. Following the sale, the chairman now owns 450,591 shares of the company’s stock, valued at $23,146,859.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Navin Shenoy sold 8,552 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $46.78, for a total transaction of $400,062.56. Following the sale, the executive vice president now directly owns 68,833 shares in the company, valued at approximately $3,220,007.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,524 shares of company stock worth $1,844,221. 0.02% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in INTC. Nuveen Asset Management LLC grew its position in shares of Intel by 1,899.0% during the second quarter. Nuveen Asset Management LLC now owns 25,170,134 shares of the chip maker’s stock worth $1,204,894,000 after acquiring an additional 23,911,014 shares during the last quarter. Davis Selected Advisers grew its position in Intel by 806.0% in the 2nd quarter. Davis Selected Advisers now owns 7,473,706 shares of the chip maker’s stock valued at $357,766,000 after buying an additional 6,648,828 shares during the last quarter. Pictet Asset Management Ltd. grew its position in Intel by 214.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 9,620,463 shares of the chip maker’s stock valued at $460,532,000 after buying an additional 6,564,340 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in Intel by 4,885.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 2,548,597 shares of the chip maker’s stock valued at $254,860,000 after buying an additional 2,497,476 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Intel by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 363,624,758 shares of the chip maker’s stock valued at $17,406,717,000 after buying an additional 2,219,241 shares during the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.
Shares of INTC traded down $0.17 during mid-day trading on Thursday, reaching $45.70. The stock had a trading volume of 21,636,215 shares, compared to its average volume of 23,761,705. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 1.04. Intel has a 52-week low of $42.36 and a 52-week high of $59.59. The business’s fifty day moving average is $48.87 and its 200 day moving average is $50.20. The firm has a market cap of $202.01 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 1.39 and a beta of 0.88.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.315 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.26 annualized dividend and a yield of 2.76%. Intel’s dividend payout ratio (DPR) is 27.51%.
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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