Intel Co. (NASDAQ:INTC) Forecasted to Post Q2 2022 Earnings of $0.69 Per Share

Intel Co. (NASDAQ:INTC – Get Rating) – Equities research analysts at Wedbush lowered their Q2 2022 earnings per share (EPS) estimates for shares of Intel in a research note issued to investors on Tuesday, July 26th. Wedbush analyst M. Bryson now anticipates that the chip maker will post earnings of $0.69 per share for the quarter, down from their prior estimate of $0.70. Wedbush has a “Underperform” rating and a $45.00 price objective on the stock. The consensus estimate for Intel’s current full-year earnings is $3.46 per share. Wedbush also issued estimates for Intel’s Q3 2022 earnings at $0.81 EPS, Q4 2022 earnings at $0.86 EPS, FY2022 earnings at $3.24 EPS and FY2023 earnings at $3.33 EPS.

Intel (NASDAQ:INTC – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The chip maker reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $18.40 billion during the quarter, compared to the consensus estimate of $18.32 billion. Intel had a return on equity of 21.67% and a net margin of 31.68%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 EPS.

A number of other equities analysts also recently issued reports on the company. The Goldman Sachs Group cut their price target on Intel from $40.00 to $30.00 in a research note on Friday, July 15th. Susquehanna Bancshares cut their target price on Intel from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 19th. Citigroup cut their target price on Intel from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, June 6th. Credit Suisse Group set a $60.00 target price on Intel in a research note on Friday, April 29th. Finally, Sanford C. Bernstein set a $35.00 target price on Intel in a research note on Monday. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus price target of $49.78.

Intel Price Performance

INTC stock opened at $39.71 on Thursday. The company has a market capitalization of $162.37 billion, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 1.51 and a beta of 0.67. 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 $35.54 and a 52-week high of $56.28. The business has a 50-day simple moving average of $39.60 and a two-hundred day simple moving average of $44.97.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INTC. Brown Advisory Inc. increased its holdings in shares of Intel by 5.0% in the fourth quarter. Brown Advisory Inc. now owns 705,270 shares of the chip maker’s stock worth $36,322,000 after purchasing an additional 33,628 shares during the period. Bessemer Group Inc. increased its holdings in shares of Intel by 21.0% in the fourth quarter. Bessemer Group Inc. now owns 148,975 shares of the chip maker’s stock worth $7,673,000 after purchasing an additional 25,855 shares during the period. Amplius Wealth Advisors LLC bought a new position in shares of Intel in the fourth quarter worth $294,000. DGS Capital Management LLC bought a new position in shares of Intel in the fourth quarter worth $398,000. Finally, BerganKDV Wealth Management LLC increased its holdings in shares of Intel by 0.8% in the fourth quarter. BerganKDV Wealth Management LLC now owns 74,328 shares of the chip maker’s stock worth $3,828,000 after purchasing an additional 607 shares during the period. Institutional investors own 62.74% of the company’s stock.

Insider Buying and Selling at Intel

In other Intel news, CFO David Zinsner bought 5,500 shares of the stock in a transaction on Tuesday, May 3rd. The shares were acquired at an average price of $44.73 per share, with a total value of $246,015.00. Following the acquisition, the chief financial officer now directly owns 8,803 shares of the company’s stock, valued at approximately $393,758.19. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.02% of the company’s stock.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Sunday, August 7th will be issued a dividend of $0.365 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $1.46 dividend on an annualized basis and a yield of 3.68%. Intel’s payout ratio is 24.25%.

Intel Company Profile

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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.