$18.04 Billion in Sales Expected for Intel Co. (NASDAQ:INTC) This Quarter

Equities analysts expect that Intel Co. (NASDAQ:INTC) will post sales of $18.04 billion for the current quarter, according to Zacks. Twelve analysts have issued estimates for Intel’s earnings. The highest sales estimate is $18.30 billion and the lowest is $17.90 billion. Intel posted sales of $19.16 billion in the same quarter last year, which would indicate a negative year over year growth rate of 5.8%. The firm is expected to report its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Intel will report full year sales of $69.37 billion for the current year, with estimates ranging from $68.83 billion to $70.00 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $70.87 billion, with estimates ranging from $65.95 billion to $73.92 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Intel.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The firm had revenue of $16.51 billion for the quarter, compared to analyst estimates of $15.70 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis.

A number of equities analysts have recently commented on INTC shares. Morgan Stanley lifted their target price on Intel from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Royal Bank of Canada reiterated an “underperform” rating and issued a $47.00 target price (up previously from $41.00) on shares of Intel in a report on Friday, July 26th. SunTrust Banks reiterated a “buy” rating and issued a $58.00 target price (up previously from $54.00) on shares of Intel in a report on Friday, July 26th. BidaskClub lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Benchmark initiated coverage on Intel in a research note on Tuesday, July 23rd. They set a “hold” rating for the company. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $54.19.

In related news, Director Reed E. Hundt sold 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $52.45, for a total value of $524,500.00. Following the completion of the transaction, the director now directly owns 44,400 shares in the company, valued at $2,328,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andy D. Bryant sold 13,609 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $51.37, for a total value of $699,094.33. Following the completion of the transaction, the chairman now owns 450,591 shares of the company’s stock, valued at $23,146,859.67. The disclosure for this sale can be found here. Insiders sold 36,524 shares of company stock valued at $1,844,221 over the last quarter. 0.02% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTC. Larson Financial Group LLC raised its stake in shares of Intel by 23.6% in the second quarter. Larson Financial Group LLC now owns 2,600 shares of the chip maker’s stock valued at $124,000 after acquiring an additional 496 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in Intel by 2.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 98,515 shares of the chip maker’s stock valued at $4,623,000 after buying an additional 2,414 shares in the last quarter. Advisory Resource Group acquired a new stake in Intel in the first quarter valued at $241,000. Grimes & Company Inc. raised its stake in Intel by 1.6% in the second quarter. Grimes & Company Inc. now owns 376,716 shares of the chip maker’s stock valued at $18,034,000 after buying an additional 5,942 shares in the last quarter. Finally, Bath Savings Trust Co raised its stake in Intel by 1.9% in the second quarter. Bath Savings Trust Co now owns 25,314 shares of the chip maker’s stock valued at $1,212,000 after buying an additional 468 shares in the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.

Shares of Intel stock traded down $0.17 on Thursday, reaching $45.70. The company had a trading volume of 21,636,215 shares, compared to its average volume of 23,761,705. The firm has a market cap of $202.01 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 1.39 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.48 and a quick ratio of 1.04. The firm’s 50-day moving average price is $48.87 and its two-hundred day moving average price is $50.20. Intel has a 1 year low of $42.36 and a 1 year high of $59.59.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a $0.315 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.26 annualized dividend and a yield of 2.76%. Intel’s payout ratio is 27.51%.

About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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