Intel (NASDAQ:INTC) Releases Q4 2024 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.120-0.120 for the period, compared to the consensus estimate of 0.080. The company issued revenue guidance of $13.3 billion-$14.3 billion, compared to the consensus revenue estimate of $13.7 billion. Intel also updated its Q4 guidance to $0.12 EPS.

Intel Stock Down 3.5 %

Shares of INTC stock traded down $0.78 on Thursday, hitting $21.52. 110,401,746 shares of the stock were exchanged, compared to its average volume of 58,829,703. The firm has a market capitalization of $91.61 billion, a P/E ratio of 22.59 and a beta of 1.03. The business has a 50-day moving average of $21.71 and a 200 day moving average of $27.15. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 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 1.78%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the company posted ($0.05) EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that Intel will post -0.47 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on INTC. UBS Group cut their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Susquehanna lowered their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Finally, Northland Securities decreased their price target on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.80.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.