Intel (NASDAQ:INTC) Updates Q2 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INTC. The Goldman Sachs Group raised their price objective on shares of Intel from $34.00 to $39.00 and gave the company a sell rating in a report on Friday, January 26th. Benchmark reissued a buy rating and set a $62.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Mizuho decreased their target price on shares of Intel from $58.00 to $55.00 and set a buy rating for the company in a research report on Friday, January 26th. Citigroup decreased their target price on shares of Intel from $47.50 to $40.00 and set a neutral rating for the company in a research report on Monday, April 15th. Finally, Evercore ISI initiated coverage on shares of Intel in a research report on Tuesday, April 16th. They set an in-line rating and a $40.00 target price for the company. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $42.38.

Intel Stock Up 1.8 %

NASDAQ:INTC traded up $0.61 during trading hours on Thursday, hitting $35.11. 61,054,465 shares of the company traded hands, compared to its average volume of 47,184,160. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $41.29 and its 200-day simple moving average is $42.30. Intel has a one year low of $26.85 and a one year high of $51.28. The company has a market cap of $148.45 billion, a PE ratio of 89.03, a PEG ratio of 3.08 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the business earned $0.10 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Equities analysts predict that Intel will post 0.61 earnings per share for the current year.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were bought 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 approximately $1,336,693.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were bought 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 approximately $1,336,693.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. Company 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.