Wall Street brokerages forecast that Intel Corporation (NASDAQ:INTC) will announce $15.71 billion in sales for the current quarter, Zacks reports. Eleven analysts have issued estimates for Intel Corporation’s earnings, with the highest sales estimate coming in at $15.80 billion and the lowest estimate coming in at $15.70 billion. Intel Corporation reported sales of $15.78 billion during the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The business is scheduled to announce its next quarterly earnings results on Tuesday, October 17th.
On average, analysts expect that Intel Corporation will report full year sales of $15.71 billion for the current year, with estimates ranging from $60.18 billion to $61.34 billion. For the next year, analysts expect that the firm will post sales of $62.67 billion per share, with estimates ranging from $61.07 billion to $64.75 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Intel Corporation.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The company had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share.
A number of equities research analysts have recently issued reports on INTC shares. Zacks Investment Research cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Bank of America Corp cut shares of Intel Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $38.00 in a report on Wednesday, June 21st. BidaskClub cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Intel Corporation in a report on Thursday, April 6th. Finally, Vetr cut shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $39.43 target price on the stock. in a report on Monday, May 22nd. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $40.55.
In related news, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the transaction, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diane M. Bryant sold 2,119 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $34.68, for a total transaction of $73,486.92. Following the transaction, the executive vice president now directly owns 108,471 shares in the company, valued at $3,761,774.28. The disclosure for this sale can be found here. Insiders have sold 76,501 shares of company stock worth $2,581,891 over the last three months. 0.09% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Watermark Asset Management Inc. purchased a new position in Intel Corporation during the first quarter worth $113,000. Orrstown Financial Services Inc. raised its position in Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares during the last quarter. Winfield Associates Inc. raised its position in Intel Corporation by 6.0% in the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after buying an additional 265 shares during the last quarter. Finally, Vigilant Capital Management LLC raised its position in Intel Corporation by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after buying an additional 805 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.
Shares of Intel Corporation (NASDAQ:INTC) traded up 2.48% during midday trading on Friday, hitting $36.35. The stock had a trading volume of 38,709,103 shares. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The company’s 50 day moving average price is $34.55 and its 200-day moving average price is $35.72. The firm has a market capitalization of $14.69 billion, a PE ratio of 13.87 and a beta of 1.00.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, August 3rd. Intel Corporation’s payout ratio is currently 41.76%.
Intel Corporation Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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