Intel (NASDAQ:INTC) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

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Intel (NASDAQ:INTC) posted its earnings results on Thursday, July 26th. The chip maker reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.05, Bloomberg Earnings reports. The company had revenue of $16.96 billion during the quarter, compared to analyst estimates of $16.78 billion. Intel had a return on equity of 27.33% and a net margin of 20.07%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. Intel updated its Q3 guidance to $1.10-1.20 EPS.

INTC stock opened at $47.10 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.15. Intel has a 52-week low of $34.38 and a 52-week high of $57.60. The stock has a market cap of $228.54 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.41 and a beta of 1.00.

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Tuesday, August 7th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, August 6th. Intel’s dividend payout ratio (DPR) is 34.68%.

Several equities analysts have recently issued reports on the company. BidaskClub downgraded Intel from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. Macquarie set a $60.00 price objective on Intel and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus reiterated a “neutral” rating and set a $52.00 price objective on shares of Intel in a research report on Thursday, August 9th. BNP Paribas set a $54.00 target price on Intel and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Finally, Nomura restated a “neutral” rating and issued a $50.00 target price on shares of Intel in a research report on Friday, August 10th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Intel currently has a consensus rating of “Hold” and an average price target of $55.55.

In related news, EVP Steven Ralph Rodgers sold 2,213 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $52.43, for a total value of $116,027.59. Following the completion of the sale, the executive vice president now owns 23,268 shares in the company, valued at $1,219,941.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Navin Shenoy sold 601 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $47.69, for a total transaction of $28,661.69. Following the completion of the sale, the executive vice president now owns 40,903 shares of the company’s stock, valued at approximately $1,950,664.07. The disclosure for this sale can be found here. Insiders have sold 4,065 shares of company stock valued at $205,200 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. TIAA CREF Investment Management LLC raised its position in Intel by 47.8% in the fourth quarter. TIAA CREF Investment Management LLC now owns 23,711,209 shares of the chip maker’s stock worth $1,094,509,000 after purchasing an additional 7,669,737 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in Intel in the second quarter worth about $204,242,000. Renaissance Technologies LLC raised its position in Intel by 3,222.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,441,594 shares of the chip maker’s stock worth $158,864,000 after purchasing an additional 3,338,000 shares in the last quarter. Platinum Investment Management Ltd. raised its position in Intel by 192.0% in the first quarter. Platinum Investment Management Ltd. now owns 4,712,431 shares of the chip maker’s stock worth $245,423,000 after purchasing an additional 3,098,600 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Intel by 14.7% in the fourth quarter. Alliancebernstein L.P. now owns 24,187,824 shares of the chip maker’s stock worth $1,116,510,000 after purchasing an additional 3,095,697 shares in the last quarter. Institutional investors and hedge funds own 66.74% of the company’s stock.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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Earnings History for Intel (NASDAQ:INTC)

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