Intel (NASDAQ: INTC) Q2 2024 EPS Estimates Raised by Analysts

Intel Co. (NASDAQ: INTC) is expected to outperform in the second quarter of 2024, as analysts at Wedbush have revised their earnings per share (EPS) estimates upward. According to a research note released on January 23rd, Wedbush analyst M. Bryson anticipates Intel posting a Q2 2024 EPS of $0.31, up from the previous estimate of $0.26. The consensus estimate for Intel’s full-year 2024 earnings stands at $0.27 per share.

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Q4 2023 Earnings Recap

Intel’s last reported quarterly earnings, released on October 26th, exceeded expectations. The chipmaker posted $0.41 EPS for the quarter, beating analysts’ consensus of $0.21 by $0.20. Despite a negative net margin of 3.11%, Intel demonstrated a positive return on equity of 0.49%. Quarterly revenue was $14.20 billion, surpassing analysts’ expectations of $13.57 billion, although it marked a 7.2% decrease YoY.

Analyst Ratings and Price Targets

Several research firms have shared their insights on Intel. Northland Securities upgraded Intel’s price target from $45.00 to $56.00, giving the stock an “outperform” rating. Mizuho shifted their rating from “neutral” to “buy,” raising the price target from $37.00 to $50.00. Overall, Intel currently maintains a consensus rating of “Hold” on MarketBeat, with a consensus target price of $38.69.

Stock Performance

As of the latest update, Intel’s stock opened at $48.89. The 50-day simple moving average is $45.94, and the 200-day simple moving average is $39.17. Intel’s one-year stock performance has ranged from a low of $24.73 to a high of $51.28.

Institutional Trading Activity

Recent large-scale transactions by institutional investors include New Millennium Group LLC increasing its stake by 87.2% in the fourth quarter. Valued Wealth Advisors LLC and Glass Jacobson Investment Advisors LLC also made significant acquisitions.

Insider Activity

CEO Patrick P. Gelsinger demonstrated confidence in Intel’s future by purchasing 6,775 shares at an average cost of $36.80 per share on November 1st. This insider transaction, totaling $249,320.00, brought Gelsinger’s total holdings to 25,475 shares.

Dividend Announcement

Intel recently declared a quarterly dividend, with shareholders of record on November 7th receiving a $0.125 dividend on December 1st. The annualized dividend is $0.50, resulting in a dividend yield of 1.02%. The company’s dividend payout ratio (DPR) is presently -125.00%.

About Intel

Intel Corporation operates globally, specializing in designing, developing, manufacturing, marketing, and selling computing and related products. The company’s segments include Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other.

This positive outlook from analysts, coupled with recent strong financial performance and strategic moves by the company’s leadership, positions Intel for potential growth in the coming quarters. Investors will be keenly watching for further developments and financial results to gauge the trajectory of Intel’s performance in the dynamic technology landscape.