Intel (NASDAQ:INTC) Issues Q4 Earnings Guidance

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

Intel Stock Performance

INTC traded up $1.68 on Friday, reaching $23.20. The company had a trading volume of 173,471,115 shares, compared to its average volume of 53,975,400. The company’s fifty day moving average is $21.79 and its 200 day moving average is $26.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock has a market cap of $99.20 billion, a P/E ratio of -6.24 and a beta of 1.03. 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 results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. As a group, analysts predict that Intel will post -0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

INTC has been the subject of several analyst reports. TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday, September 16th. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group cut their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus price target of $30.12.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.