Intel (NASDAQ:INTC) Announces Quarterly Earnings Results

Intel (NASDAQ:INTCGet Rating) released its quarterly earnings data on Thursday. The chip maker reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.08, MarketWatch Earnings reports. Intel had a net margin of 25.14% and a return on equity of 25.52%. The firm had revenue of $18.40 billion for the quarter, compared to the consensus estimate of $18.32 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. Intel updated its Q2 guidance to $0.70 EPS and its FY22 guidance to $3.60 EPS.

NASDAQ:INTC opened at $43.59 on Friday. The firm has a market cap of $178.22 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 1.74 and a beta of 0.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.10 and a quick ratio of 1.71. The company has a 50-day moving average of $47.45 and a 200 day moving average of $49.65. Intel has a 1-year low of $43.50 and a 1-year high of $58.43.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Saturday, May 7th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Thursday, May 5th. Intel’s dividend payout ratio is currently 24.25%.

Several research firms have weighed in on INTC. Citigroup lowered their price objective on shares of Intel from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, January 27th. BMO Capital Markets lowered their target price on shares of Intel from $52.00 to $50.00 and set a “hold” rating for the company in a report on Friday, February 18th. Bank of America lowered their target price on shares of Intel from $55.00 to $52.00 and set an “underperform” rating for the company in a report on Thursday, January 27th. Mizuho lowered their target price on shares of Intel from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, January 27th. Finally, Northland Securities upgraded shares of Intel from a “market perform” rating to an “outperform” rating and set a $62.00 target price for the company in a report on Wednesday, January 5th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.25.

In other Intel news, EVP Steven Ralph Rodgers sold 3,863 shares of the firm’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $48.81, for a total value of $188,553.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Omar Ishrak bought 11,025 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The shares were purchased at an average price of $45.11 per share, with a total value of $497,337.75. The disclosure for this purchase can be found here. Corporate insiders own 0.02% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. OLD Mission Capital LLC acquired a new position in Intel in the third quarter valued at $727,000. Keudell Morrison Wealth Management boosted its position in shares of Intel by 4.1% in the third quarter. Keudell Morrison Wealth Management now owns 25,823 shares of the chip maker’s stock worth $1,376,000 after buying an additional 1,007 shares during the period. Ironwood Wealth Management LLC. boosted its position in shares of Intel by 2.8% in the second quarter. Ironwood Wealth Management LLC. now owns 8,511 shares of the chip maker’s stock worth $478,000 after buying an additional 232 shares during the period. Autumn Glory Partners LLC purchased a new stake in shares of Intel in the fourth quarter worth about $672,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Intel by 4.4% in the third quarter. Bank of New York Mellon Corp now owns 41,547,519 shares of the chip maker’s stock worth $2,213,654,000 after buying an additional 1,756,206 shares during the period. Hedge funds and other institutional investors own 61.73% of the company’s stock.

About Intel (Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

See Also

Earnings History for Intel (NASDAQ:INTC)

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