Intel (NASDAQ:INTC) Releases 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 Up 7.8 %

NASDAQ 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 has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company’s fifty day moving average is $21.79 and its 200 day moving average is $26.90. Intel has a 52-week low of $18.51 and a 52-week high of $51.28. The stock has a market capitalization of $99.20 billion, a P/E ratio of -6.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its earnings results 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 negative net margin of 29.42% and a negative return on equity of 1.68%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the company earned ($0.05) EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts anticipate that Intel will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on INTC. Daiwa America raised shares of Intel to a “hold” rating in a research report on Monday, August 26th. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Bank of America lowered 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 report on Friday, August 2nd. Barclays cut their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.12.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.04% of the company’s stock.

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.