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 guidance of $0.12 for the period, compared to the consensus earnings per share 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 Trading Down 3.5 %

Shares of NASDAQ INTC traded down $0.78 during mid-day trading on Thursday, hitting $21.52. 91,776,203 shares of the company traded hands, compared to its average volume of 58,748,910. The business has a 50 day moving average of $21.71 and a two-hundred day moving average of $27.15. The stock has a market capitalization of $91.61 billion, a price-to-earnings ratio of 22.59 and a beta of 1.03. Intel has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, sell-side analysts anticipate that Intel will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTC shares. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Finally, Stifel Nicolaus restated a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a report on Friday, October 25th. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.80.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

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.