$18.11 Billion in Sales Expected for Intel Co. (INTC) This Quarter

Analysts forecast that Intel Co. (NASDAQ:INTC) will announce $18.11 billion in sales for the current quarter, Zacks reports. Thirteen analysts have made estimates for Intel’s earnings, with the lowest sales estimate coming in at $17.98 billion and the highest estimate coming in at $18.25 billion. Intel reported sales of $16.15 billion during the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The firm is expected to issue its next quarterly earnings results after the market closes on Thursday, October 25th.

According to Zacks, analysts expect that Intel will report full year sales of $69.51 billion for the current fiscal year, with estimates ranging from $68.92 billion to $69.88 billion. For the next fiscal year, analysts forecast that the firm will report sales of $71.45 billion, with estimates ranging from $66.65 billion to $73.62 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Intel.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 26th. The chip maker reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.05. The company had revenue of $16.96 billion for the quarter, compared to the consensus estimate of $16.78 billion. Intel had a net margin of 20.07% and a return on equity of 27.33%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS.

Several research analysts recently issued reports on the stock. Summit Insights downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Stifel Nicolaus reiterated a “neutral” rating and set a $52.00 price target on shares of Intel in a research report on Thursday, August 9th. Macquarie reiterated a “buy” rating and set a $60.00 price target on shares of Intel in a research report on Monday, September 24th. Barclays downgraded shares of Intel from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $62.00 to $53.00 in a research report on Monday, August 6th. Finally, Sanford C. Bernstein reiterated a “neutral” rating and set a $54.00 price target on shares of Intel in a research report on Thursday, June 21st. Six equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $55.08.

In related news, CEO Robert Holmes Swan purchased 5,243 shares of the stock in a transaction dated Monday, July 30th. The stock was bought at an average cost of $47.69 per share, with a total value of $250,038.67. Following the purchase, the chief executive officer now directly owns 71,672 shares in the company, valued at approximately $3,418,037.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Navin Shenoy sold 601 shares of the company’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $47.69, for a total value of $28,661.69. Following the completion of the sale, the executive vice president now directly owns 40,903 shares of the company’s stock, valued at $1,950,664.07. The disclosure for this sale can be found here. Insiders have sold a total of 4,077 shares of company stock valued at $205,757 over the last three months. Company insiders own 0.03% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. increased its stake in Intel by 5.9% during the 1st quarter. Baird Financial Group Inc. now owns 1,922,881 shares of the chip maker’s stock worth $100,143,000 after purchasing an additional 106,635 shares in the last quarter. Baxter Bros Inc. boosted its position in Intel by 11.5% during the 2nd quarter. Baxter Bros Inc. now owns 220,571 shares of the chip maker’s stock worth $10,965,000 after acquiring an additional 22,783 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in Intel by 1.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,297,968 shares of the chip maker’s stock worth $67,598,000 after acquiring an additional 12,285 shares during the last quarter. Altium Wealth Management LLC boosted its position in Intel by 32.2% during the 1st quarter. Altium Wealth Management LLC now owns 21,523 shares of the chip maker’s stock worth $1,121,000 after acquiring an additional 5,243 shares during the last quarter. Finally, Mutual of Omaha Bank Wealth Management boosted its position in Intel by 4.2% during the 2nd quarter. Mutual of Omaha Bank Wealth Management now owns 29,713 shares of the chip maker’s stock worth $1,477,000 after acquiring an additional 1,205 shares during the last quarter. 65.37% of the stock is owned by institutional investors.

NASDAQ INTC traded down $0.05 on Friday, hitting $45.89. 23,111,900 shares of the company were exchanged, compared to its average volume of 29,213,285. The company has a market cap of $221.24 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.35 and a beta of 0.97. The company has a quick ratio of 1.15, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Intel has a 1-year low of $39.60 and a 1-year high of $57.60.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.20 annualized dividend and a yield of 2.61%. Intel’s dividend payout ratio is currently 34.68%.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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Earnings History and Estimates for Intel (NASDAQ:INTC)

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