$16.30 Billion in Sales Expected for Intel Corporation (INTC) This Quarter
Brokerages forecast that Intel Corporation (NASDAQ:INTC) will post sales of $16.30 billion for the current quarter, Zacks reports. Twelve analysts have issued estimates for Intel Corporation’s earnings, with estimates ranging from $16.30 billion to $16.33 billion. Intel Corporation reported sales of $16.37 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.4%. The business is scheduled to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Intel Corporation will report full-year sales of $16.30 billion for the current year, with estimates ranging from $62.01 billion to $62.05 billion. For the next financial year, analysts expect that the company will report sales of $63.62 billion per share, with estimates ranging from $62.31 billion to $65.00 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Intel Corporation.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.21. Intel Corporation had a net margin of 22.31% and a return on equity of 22.65%. The company had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. During the same quarter in the prior year, the company earned $0.80 EPS. Intel Corporation’s revenue was up 2.4% compared to the same quarter last year.
Several equities analysts have weighed in on INTC shares. Canaccord Genuity boosted their target price on shares of Intel Corporation from $41.00 to $45.00 and gave the company a “hold” rating in a report on Friday. Barclays PLC reiterated a “buy” rating and issued a $55.00 target price on shares of Intel Corporation in a report on Monday, November 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 target price on shares of Intel Corporation in a report on Wednesday, November 1st. Sanford C. Bernstein set a $34.00 target price on shares of Intel Corporation and gave the company a “sell” rating in a report on Friday, October 27th. Finally, BMO Capital Markets upgraded shares of Intel Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, October 30th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $43.40.
Shares of Intel Corporation (NASDAQ:INTC) traded down $1.02 during midday trading on Monday, reaching $44.63. 63,798,000 shares of the company traded hands, compared to its average volume of 23,636,344. Intel Corporation has a one year low of $33.23 and a one year high of $47.30. The stock has a market cap of $210,130.00, a PE ratio of 14.03, a PEG ratio of 1.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 1.60.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.44%. Intel Corporation’s dividend payout ratio (DPR) is presently 38.25%.
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In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of Intel Corporation stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $46.73, for a total transaction of $66,543.52. Following the completion of the sale, the insider now directly owns 1,536 shares in the company, valued at $71,777.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Andy D. Bryant sold 89,087 shares of Intel Corporation stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $44.80, for a total transaction of $3,991,097.60. Following the sale, the chairman now owns 428,789 shares of the company’s stock, valued at $19,209,747.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 659,036 shares of company stock valued at $28,872,880. Insiders own 0.08% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Murphy Capital Management Inc. grew its holdings in Intel Corporation by 18.4% in the second quarter. Murphy Capital Management Inc. now owns 31,721 shares of the chip maker’s stock valued at $1,070,000 after purchasing an additional 4,928 shares during the period. Papp L Roy & Associates grew its holdings in Intel Corporation by 1.2% in the second quarter. Papp L Roy & Associates now owns 68,065 shares of the chip maker’s stock valued at $2,297,000 after purchasing an additional 800 shares during the period. Crescent Grove Advisors LLC purchased a new stake in Intel Corporation in the second quarter valued at approximately $555,000. United Bank grew its holdings in Intel Corporation by 108.0% in the second quarter. United Bank now owns 43,841 shares of the chip maker’s stock valued at $1,479,000 after purchasing an additional 22,765 shares during the period. Finally, Chicago Partners Investment Group LLC grew its holdings in Intel Corporation by 182.1% in the second quarter. Chicago Partners Investment Group LLC now owns 15,097 shares of the chip maker’s stock valued at $530,000 after purchasing an additional 9,746 shares during the period. Hedge funds and other institutional investors own 66.90% 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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