Intel Corporation (INTC) Expected to Post Quarterly Sales of $15.70 Billion
Analysts expect Intel Corporation (NASDAQ:INTC) to post $15.70 billion in sales for the current fiscal quarter, Zacks reports. Twelve analysts have made estimates for Intel Corporation’s earnings, with estimates ranging from $15.70 billion to $15.72 billion. Intel Corporation reported sales of $15.78 billion in the same quarter last year, which would suggest a negative year over year growth rate of 0.5%. The business is scheduled to report its next earnings results on Tuesday, October 17th.
On average, analysts expect that Intel Corporation will report full year sales of $15.70 billion for the current financial year, with estimates ranging from $60.18 billion to $61.76 billion. For the next financial year, analysts expect that the firm will report sales of $62.80 billion per share, with estimates ranging from $61.07 billion to $64.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Intel Corporation.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the prior year, the company posted $0.59 earnings per share. Intel Corporation’s revenue for the quarter was up 9.1% compared to the same quarter last year.
A number of research firms recently commented on INTC. Sanford C. Bernstein set a $30.00 price target on shares of Intel Corporation and gave the company a “sell” rating in a report on Tuesday. BidaskClub upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Goldman Sachs Group, Inc. (The) reiterated a “hold” rating on shares of Intel Corporation in a report on Wednesday, August 9th. Vetr lowered shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 price target for the company. in a report on Tuesday, August 8th. Finally, B. Riley reiterated a “buy” rating and set a $46.00 price target on shares of Intel Corporation in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Intel Corporation has a consensus rating of “Hold” and a consensus target price of $40.55.
Shares of Intel Corporation (INTC) opened at 36.00 on Wednesday. The firm has a market capitalization of $169.16 billion, a PE ratio of 13.74 and a beta of 1.01. The stock’s 50 day moving average is $34.96 and its 200 day moving average is $35.67. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be paid a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, August 3rd. Intel Corporation’s dividend payout ratio (DPR) is presently 41.76%.
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In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.40, for a total transaction of $51,833.60. Following the sale, the insider now owns 1,536 shares in the company, valued at approximately $55,910.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the sale, the chief executive officer now owns 534,746 shares in the company, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. Insiders sold a total of 91,921 shares of company stock worth $3,130,162 in the last quarter. Company insiders own 0.09% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. boosted its stake in Intel Corporation by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 7,785 shares of the chip maker’s stock worth $263,000 after buying an additional 29 shares during the last quarter. Cordasco Financial Network boosted its stake in Intel Corporation by 0.7% in the first quarter. Cordasco Financial Network now owns 5,699 shares of the chip maker’s stock worth $206,000 after buying an additional 38 shares during the last quarter. Summit Asset Management LLC boosted its stake in Intel Corporation by 0.7% in the first quarter. Summit Asset Management LLC now owns 6,281 shares of the chip maker’s stock worth $227,000 after buying an additional 46 shares during the last quarter. First Hawaiian Bank boosted its stake in Intel Corporation by 0.9% in the first quarter. First Hawaiian Bank now owns 5,769 shares of the chip maker’s stock worth $208,000 after buying an additional 50 shares during the last quarter. Finally, First Command Financial Services Inc. boosted its stake in Intel Corporation by 0.4% in the first quarter. First Command Financial Services Inc. now owns 12,607 shares of the chip maker’s stock worth $455,000 after buying an additional 51 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.
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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