Intel Co. (NASDAQ:INTC) Expected to Earn FY2024 Earnings of ($0.49) Per Share

Intel Co. (NASDAQ:INTC) – Equities researchers at Cantor Fitzgerald issued their FY2024 EPS estimates for shares of Intel in a research note issued on Monday, August 26th. Cantor Fitzgerald analyst C. Muse forecasts that the chip maker will earn ($0.49) per share for the year. Cantor Fitzgerald has a “Neutral” rating and a $27.00 price target on the stock. The consensus estimate for Intel’s current full-year earnings is $0.07 per share.

Several other brokerages have also recently weighed in on INTC. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Roth Mkm dropped their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. Finally, The Goldman Sachs Group decreased their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Stock Performance

Shares of NASDAQ INTC opened at $22.04 on Thursday. Intel has a 1 year low of $18.84 and a 1 year high of $51.28. The firm has a market cap of $93.82 billion, a P/E ratio of 22.96, a PEG ratio of 17.38 and a beta of 1.05. The stock has a fifty day moving average price of $27.24 and a two-hundred day moving average price of $33.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.82%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the business earned ($0.05) earnings per share. The company’s revenue was down .8% on a year-over-year basis.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by company insiders.

Institutional Trading of Intel

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Intel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after purchasing an additional 3,310,528 shares during the last quarter. Capital International Investors lifted its position in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. Norges Bank acquired a new position in shares of Intel during the 4th quarter valued at about $2,424,202,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Intel by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.