Intel (NASDAQ:INTC) Updates Q4 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.12 for the period, compared to the consensus earnings per share estimate of $0.08. The company issued revenue guidance of $13.3-$14.3 billion, compared to the consensus revenue estimate of $13.66 billion.

Intel Trading Down 3.5 %

Shares of INTC stock traded down $0.78 on Thursday, reaching $21.52. 91,776,203 shares of the stock were exchanged, compared to its average volume of 58,748,910. Intel has a 1-year low of $18.51 and a 1-year high of $51.28. The stock has a market cap of $91.61 billion, a P/E ratio of 22.59 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $21.71 and a two-hundred day moving average of $27.15.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. On average, research analysts anticipate that Intel will post -0.47 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on INTC. JPMorgan Chase & Co. dropped their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Barclays lowered their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Susquehanna decreased their price target on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.80.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.