Q3 2023 EPS Estimates for Intel Co. Boosted by Analyst (NASDAQ:INTC)

Intel Co. (NASDAQ:INTCGet Rating) – Stock analysts at Zacks Research raised their Q3 2023 EPS estimates for shares of Intel in a research report issued to clients and investors on Wednesday, May 24th. Zacks Research analyst S. Bose now expects that the chip maker will post earnings per share of $0.07 for the quarter, up from their previous forecast of $0.03. The consensus estimate for Intel’s current full-year earnings is $0.41 per share. Zacks Research also issued estimates for Intel’s Q1 2024 earnings at $0.22 EPS and Q3 2024 earnings at $0.27 EPS.

Intel (NASDAQ:INTCGet Rating) last announced its quarterly earnings results on Thursday, April 27th. The chip maker reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.12. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $11.13 billion. Intel had a negative net margin of 5.06% and a positive return on equity of 3.06%. The business’s quarterly revenue was down 36.2% compared to the same quarter last year. During the same period last year, the firm earned $0.87 EPS.

INTC has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of Intel from $25.50 to $32.00 and gave the company a “neutral” rating in a research report on Monday, April 17th. Susquehanna lifted their target price on shares of Intel from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, April 20th. Morgan Stanley raised shares of Intel from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $29.50 to $28.00 in a research note on Thursday, February 23rd. Mizuho lifted their target price on shares of Intel from $29.00 to $30.00 in a research note on Friday, April 28th. Finally, BMO Capital Markets lifted their target price on shares of Intel from $28.00 to $32.00 in a research note on Friday, April 28th. Eight investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.52.

Intel Price Performance

Shares of NASDAQ:INTC opened at $29.00 on Friday. The stock has a market cap of $120.96 billion, a PE ratio of -42.65, a PEG ratio of 14.52 and a beta of 0.88. The company’s fifty day moving average is $30.47 and its 200 day moving average is $28.96. Intel has a 52 week low of $24.59 and a 52 week high of $44.93. The company has a quick ratio of 1.29, a current ratio of 1.76 and a debt-to-equity ratio of 0.49.

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently made changes to their positions in INTC. Frontier Wealth Management LLC boosted its holdings in Intel by 0.5% in the first quarter. Frontier Wealth Management LLC now owns 46,894 shares of the chip maker’s stock valued at $2,181,000 after acquiring an additional 253 shares during the last quarter. West Michigan Advisors LLC lifted its stake in Intel by 5.4% in the first quarter. West Michigan Advisors LLC now owns 5,137 shares of the chip maker’s stock valued at $255,000 after buying an additional 262 shares during the period. Retirement Income Solutions Inc lifted its stake in Intel by 5.1% in the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after buying an additional 307 shares during the period. CFO4Life Group LLC lifted its stake in Intel by 2.3% in the first quarter. CFO4Life Group LLC now owns 15,770 shares of the chip maker’s stock valued at $515,000 after buying an additional 348 shares during the period. Finally, Traynor Capital Management Inc. lifted its stake in Intel by 3.8% in the first quarter. Traynor Capital Management Inc. now owns 9,575 shares of the chip maker’s stock valued at $313,000 after buying an additional 351 shares during the period. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 8,200 shares of the stock in a transaction on Monday, May 1st. The stock was acquired at an average price of $30.41 per share, for a total transaction of $249,362.00. Following the completion of the transaction, the chief executive officer now directly owns 138,265 shares of the company’s stock, valued at $4,204,638.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by company insiders.

Intel Company Profile

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.

Further Reading

Earnings History and Estimates for Intel (NASDAQ:INTC)

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