Intel Co. (NASDAQ:INTC) Expected to Earn FY2024 Earnings of ($0.38) Per Share

Intel Co. (NASDAQ:INTC) – Zacks Research reduced their FY2024 earnings estimates for shares of Intel in a research report issued to clients and investors on Wednesday, September 18th. Zacks Research analyst R. Department now forecasts that the chip maker will earn ($0.38) per share for the year, down from their prior estimate of ($0.35). The consensus estimate for Intel’s current full-year earnings is ($0.47) per share. Zacks Research also issued estimates for Intel’s Q4 2024 earnings at ($0.02) EPS, Q1 2025 earnings at ($0.08) EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.30 EPS, Q1 2026 earnings at $0.21 EPS and Q2 2026 earnings at $0.31 EPS.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 return on equity of 1.78% and a net margin of 1.77%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Roth Mkm dropped their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Susquehanna decreased their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Finally, StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Stock Up 3.3 %

Shares of Intel stock opened at $21.84 on Monday. The firm has a market cap of $92.97 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. The stock’s 50-day moving average is $23.67 and its 200 day moving average is $30.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel has a one year low of $18.51 and a one year high of $51.28.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the period. Capital International Investors grew its stake in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA increased its position in Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after acquiring an additional 487,191 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’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 completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.04% of the stock is owned by insiders.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.29%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.