Intel (NASDAQ:INTC) Releases Q2 2024 Earnings Guidance

Intel (NASDAQ:INTC - Get Free Report) 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTC. Susquehanna lowered their target price on shares of Intel from $42.00 to $40.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. Wedbush reissued a neutral rating and set a $40.00 target price on shares of Intel in a research note on Wednesday, April 17th. Raymond James lowered their target price on shares of Intel from $54.00 to $52.00 and set an outperform rating for the company in a research note on Friday, January 26th. Mizuho lowered their target price on shares of Intel from $58.00 to $55.00 and set a buy rating for the company in a research note on Friday, January 26th. Finally, Morgan Stanley increased their target price on shares of Intel from $39.00 to $48.00 and gave the stock an equal weight rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Intel has an average rating of Hold and an average target price of $42.38.

Intel Stock Performance

Shares of Intel stock traded up $0.61 during midday trading on Thursday, hitting $35.11. The company had a trading volume of 66,064,457 shares, compared to its average volume of 47,235,727. The stock has a market cap of $148.45 billion, a price-to-earnings ratio of 90.03, a PEG ratio of 3.08 and a beta of 1.00. 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 company has a fifty day simple moving average of $41.11 and a 200 day simple moving average of $42.25. Intel has a 12-month low of $26.85 and a 12-month high of $51.28.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. Intel's revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. As a group, analysts predict that Intel will post 0.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares of the company's stock, valued at approximately $1,336,693.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares of the company's stock, valued at approximately $1,336,693.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction on Monday, January 29th. The shares were acquired 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 directly owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

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.