Intel Co. (NASDAQ:INTC – Free Report) – Equities research analysts at KeyCorp reduced their Q1 2024 earnings per share (EPS) estimates for shares of Intel in a report issued on Monday, October 2nd. KeyCorp analyst J. Vinh now anticipates that the chip maker will earn $0.09 per share for the quarter, down from their previous forecast of $0.11. The consensus estimate for Intel’s current full-year earnings is ($0.11) per share. KeyCorp also issued estimates for Intel’s Q2 2024 earnings at $0.16 EPS, Q3 2024 earnings at $0.27 EPS and Q4 2024 earnings at $0.38 EPS.
A number of other analysts have also commented on the company. Morgan Stanley cut their price target on Intel from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, July 28th. StockNews.com began coverage on Intel in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Wells Fargo & Company cut their price objective on Intel from $40.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, July 28th. Jefferies Financial Group lifted their price objective on Intel from $32.00 to $35.00 in a research note on Thursday, June 22nd. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $34.24.
Intel Stock Performance
Shares of INTC stock opened at $35.93 on Thursday. The business’s 50-day moving average price is $35.37 and its 200-day moving average price is $32.97. Intel has a 12 month low of $24.59 and a 12 month high of $40.07. The firm has a market capitalization of $150.47 billion, a price-to-earnings ratio of -163.31 and a beta of 0.87. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44.
Intel (NASDAQ:INTC – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. The firm had revenue of $12.95 billion for the quarter, compared to analyst estimates of $12.03 billion.
Intel Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date was Friday, August 4th. This represents a $0.50 annualized dividend and a yield of 1.39%. Intel’s dividend payout ratio (DPR) is currently -227.26%.
Insider Buying and Selling
In other Intel news, CEO Patrick P. Gelsinger acquired 3,850 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were acquired at an average price of $34.63 per share, with a total value of $133,325.50. Following the completion of the transaction, the chief executive officer now owns 105,495 shares in the company, valued at $3,653,291.85. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger purchased 3,250 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were purchased at an average price of $35.87 per share, with a total value of $116,577.50. Following the transaction, the chief executive officer now directly owns 139,715 shares of the company’s stock, valued at $5,011,577.05. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Patrick P. Gelsinger purchased 3,850 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the transaction, the chief executive officer now directly owns 105,495 shares in the company, valued at $3,653,291.85. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.
Institutional Trading of Intel
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Intel by 1.2% during the 2nd quarter. State Street Corp now owns 181,557,033 shares of the chip maker’s stock valued at $6,071,267,000 after purchasing an additional 2,237,616 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Intel by 98,521.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 178,121,843 shares of the chip maker’s stock valued at $5,956,394,000 after purchasing an additional 177,941,231 shares during the period. Geode Capital Management LLC raised its stake in shares of Intel by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 84,895,947 shares of the chip maker’s stock valued at $2,831,569,000 after purchasing an additional 2,166,976 shares during the period. Capital Research Global Investors raised its stake in shares of Intel by 38.6% during the 2nd quarter. Capital Research Global Investors now owns 74,806,869 shares of the chip maker’s stock valued at $2,501,537,000 after purchasing an additional 20,836,219 shares during the period. Finally, Capital International Investors raised its stake in shares of Intel by 2.3% during the 2nd quarter. Capital International Investors now owns 71,950,264 shares of the chip maker’s stock valued at $2,405,895,000 after purchasing an additional 1,636,139 shares during the period. 60.84% of the stock is currently owned by institutional investors.
Intel Company Profile
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.