Intel (NASDAQ:INTC) Releases FY 2022 Earnings Guidance

Intel (NASDAQ:INTCGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $3.60-$3.60 for the period, compared to the consensus EPS estimate of $3.50. The company issued revenue guidance of $76.00 billion-$76.00 billion, compared to the consensus revenue estimate of $75.78 billion.Intel also updated its Q2 2022 guidance to $0.70-$0.70 EPS.

A number of research analysts have issued reports on the company. Zacks Investment Research raised Intel from a sell rating to a hold rating and set a $46.00 price objective for the company in a report on Monday, May 2nd. Barclays set a $45.00 target price on Intel in a research note on Friday, April 29th. Wedbush reissued an underperform rating and issued a $45.00 price objective on shares of Intel in a report on Thursday, April 21st. Truist Financial cut their price target on Intel from $53.00 to $49.00 in a report on Friday, April 8th. Finally, Bank of America dropped their target price on Intel from $55.00 to $52.00 and set an underperform rating for the company in a report on Thursday, January 27th. Nine analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Intel has a consensus rating of Hold and a consensus target price of $53.82.

Shares of INTC opened at $43.07 on Tuesday. The stock’s 50-day simple moving average is $47.26 and its 200 day simple moving average is $49.20. The stock has a market capitalization of $176.11 billion, a price-to-earnings ratio of 7.15, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.73 and a current ratio of 2.13. Intel has a 52-week low of $42.87 and a 52-week high of $58.42.

Intel (NASDAQ:INTCGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The chip maker reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.07. Intel had a return on equity of 21.67% and a net margin of 31.68%. The business had revenue of $18.40 billion for the quarter, compared to analyst estimates of $18.32 billion. During the same period last year, the company earned $1.39 EPS. Intel’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts forecast that Intel will post 3.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Saturday, May 7th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, May 5th. Intel’s payout ratio is 24.25%.

In other news, CEO Patrick P. Gelsinger bought 5,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were bought at an average cost of $44.27 per share, for a total transaction of $247,912.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David Zinsner acquired 5,500 shares of Intel stock in a transaction on Tuesday, May 3rd. The shares were bought at an average cost of $44.73 per share, for a total transaction of $246,015.00. Following the completion of the purchase, the chief financial officer now directly owns 8,803 shares of the company’s stock, valued at $393,758.19. The disclosure for this purchase can be found here. In the last three months, insiders acquired 22,125 shares of company stock valued at $991,265. Corporate insiders own 0.02% of the company’s stock.

Large investors have recently made changes to their positions in the stock. OLD Mission Capital LLC bought a new position in Intel in the third quarter worth approximately $727,000. Keudell Morrison Wealth Management lifted its holdings in shares of Intel by 4.1% during the 3rd quarter. Keudell Morrison Wealth Management now owns 25,823 shares of the chip maker’s stock valued at $1,376,000 after purchasing an additional 1,007 shares during the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of Intel by 2.8% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 8,511 shares of the chip maker’s stock valued at $478,000 after purchasing an additional 232 shares during the last quarter. Autumn Glory Partners LLC purchased a new stake in shares of Intel during the 4th quarter valued at $672,000. Finally, Bank of New York Mellon Corp increased its position in shares of Intel by 4.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 41,547,519 shares of the chip maker’s stock valued at $2,213,654,000 after acquiring an additional 1,756,206 shares during the period. 62.74% of the stock is currently owned by institutional investors.

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.

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Earnings History and Estimates for Intel (NASDAQ:INTC)

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