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.

Intel Price Performance

Intel stock traded down $3.23 during mid-day trading on Friday, hitting $31.88. 119,742,494 shares of the company traded hands, compared to its average volume of 50,613,192. Intel has a one year low of $26.85 and a one year high of $51.28. 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 stock has a market cap of $134.79 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. The stock has a fifty day moving average price of $40.88 and a 200-day moving average price of $42.23.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts predict that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. Intel’s payout ratio is 52.08%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Bank of America decreased their price target on shares of Intel from $50.00 to $44.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Needham & Company LLC restated a hold rating on shares of Intel in a research report on Friday. HSBC reduced their price objective on Intel from $44.00 to $37.00 and set a hold rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on Intel from $37.00 to $35.00 and set an underweight rating for the company in a research note on Friday. Finally, TD Cowen reduced their price target on Intel from $42.00 to $35.00 and set a hold rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Intel currently has an average rating of Hold and an average price target of $39.75.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction 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 acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. 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.