Intel (NASDAQ:INTC) Releases Q2 2024 Earnings Guidance

Intel (NASDAQ:INTC) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.100-0.100 for the period, compared to the consensus 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 Price Performance

Shares of NASDAQ:INTC traded down $3.23 during trading on Friday, reaching $31.88. The stock 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. Intel has a 1-year low of $26.85 and a 1-year high of $51.28. The stock has a market cap of $134.79 billion, a PE ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00. The business has a fifty day moving average price of $40.88 and a 200-day moving average price of $42.23.

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

Intel Dividend Announcement

The firm also recently declared 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. 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 presently 52.08%.

Analyst Ratings Changes

INTC has been the topic of a number of research reports. Sanford C. Bernstein decreased their target price on shares of Intel from $42.00 to $35.00 and set a market perform rating on the stock in a research note on Friday. Wells Fargo & Company reduced their price objective on Intel from $43.00 to $38.00 and set an equal weight rating on the stock in a research report on Friday. Rosenblatt Securities restated a sell rating and issued a $17.00 target price on shares of Intel in a report on Friday. Bank of America reduced their price target on Intel from $50.00 to $44.00 and set a neutral rating on the stock in a report on Friday, April 12th. Finally, Stifel Nicolaus reissued a hold rating and issued a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $39.75.

Insider Transactions at Intel

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

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.