Zacks: Analysts Anticipate Intel Co. (INTC) Will Post Quarterly Sales of $16.30 Billion

Wall Street brokerages expect Intel Co. (NASDAQ:INTC) to announce $16.30 billion in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Intel’s earnings, with estimates ranging from $16.30 billion to $16.33 billion. Intel reported sales of $16.37 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 report its next earnings results on Thursday, January 25th.

On average, analysts expect that Intel will report full-year sales of $16.30 billion for the current financial year, with estimates ranging from $62.01 billion to $62.05 billion. For the next fiscal year, analysts expect that the firm 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 sell-side research firms that cover Intel.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.21. Intel had a return on equity of 22.65% and a net margin of 22.31%. The company had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $15.73 billion. During the same quarter in the prior year, the company posted $0.80 EPS. Intel’s quarterly revenue was up 2.4% on a year-over-year basis.

Several research firms recently commented on INTC. Zacks Investment Research upgraded Intel from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Friday, September 22nd. Canaccord Genuity boosted their target price on Intel from $41.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, November 17th. ValuEngine cut Intel from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Robert W. Baird reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Intel in a research report on Tuesday, September 5th. Finally, BMO Capital Markets lifted their price target on Intel from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $43.94.

In related news, CEO Brian M. Krzanich sold 889,878 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total value of $39,323,708.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $46.73, for a total value of $66,543.52. Following the sale, the insider now owns 1,536 shares in the company, valued at approximately $71,777.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,548,914 shares of company stock worth $68,196,589. Corporate insiders own 0.08% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Financial Engines Advisors L.L.C. acquired a new position in shares of Intel in the third quarter worth about $119,000. Acrospire Investment Management LLC boosted its holdings in Intel by 111.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after purchasing an additional 1,900 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of Intel by 47.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 3,850 shares of the chip maker’s stock worth $147,000 after acquiring an additional 1,233 shares during the period. Winfield Associates Inc. increased its position in Intel by 6.0% during the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after purchasing an additional 265 shares in the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new position in Intel in the 3rd quarter valued at approximately $158,000. 67.55% of the stock is owned by institutional investors and hedge funds.

Shares of Intel (INTC) opened at $46.70 on Monday. The stock has a market capitalization of $218,836.80, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.71 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.60 and a quick ratio of 1.27. Intel has a twelve month low of $33.23 and a twelve month high of $47.64.

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About Intel

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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