Intel Co. (NASDAQ:INTC) Expected to Announce Quarterly Sales of $15.60 Billion

Wall Street analysts forecast that Intel Co. (NASDAQ:INTC) will post $15.60 billion in sales for the current fiscal quarter, Zacks reports. Twelve analysts have issued estimates for Intel’s earnings, with estimates ranging from $15.57 billion to $15.64 billion. Intel reported sales of $16.96 billion during the same quarter last year, which would suggest a negative year over year growth rate of 8%. The firm is expected to issue its next earnings report after the market closes on Thursday, July 25th.

On average, analysts expect that Intel will report full year sales of $68.21 billion for the current year, with estimates ranging from $66.28 billion to $69.00 billion. For the next fiscal year, analysts forecast that the business will report sales of $70.84 billion, with estimates ranging from $65.37 billion to $73.92 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Intel.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 25th. The chip maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. Intel had a net margin of 29.04% and a return on equity of 29.54%. The company had revenue of $16.10 million during the quarter, compared to analysts’ expectations of $16.03 billion. During the same period in the prior year, the company posted $0.87 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis.

INTC has been the topic of several analyst reports. Wells Fargo & Co lowered their target price on shares of Teva Pharmaceutical Industries from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. SunTrust Banks upped their target price on shares of Fidelity National Financial to $45.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wedbush upgraded shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th. Credit Suisse Group set a €38.00 ($44.19) price objective on shares of Dialog Semiconductor and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Nomura assumed coverage on shares of NVIDIA in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $147.00 price objective on the stock. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $53.52.

In other Intel news, insider Venkata S. M. Renduchintala sold 37,989 shares of Intel stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $52.19, for a total value of $1,982,645.91. Following the completion of the sale, the insider now directly owns 76,855 shares in the company, valued at $4,011,062.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Navin Shenoy sold 8,552 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.78, for a total value of $400,062.56. Following the sale, the executive vice president now owns 68,833 shares of the company’s stock, valued at approximately $3,220,007.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,406 shares of company stock worth $2,477,573. 0.02% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in INTC. Tributary Capital Management LLC purchased a new position in Intel in the 4th quarter valued at approximately $28,000. Ogorek Anthony Joseph NY ADV raised its position in shares of Intel by 500.0% in the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock valued at $28,000 after buying an additional 500 shares during the last quarter. Virtus ETF Advisers LLC acquired a new position in Intel during the fourth quarter worth approximately $48,000. Stevens First Principles Investment Advisors acquired a new position in Intel during the fourth quarter worth approximately $53,000. Finally, Contravisory Investment Management Inc. increased its position in Intel by 234.1% during the second quarter. Contravisory Investment Management Inc. now owns 1,146 shares of the chip maker’s stock worth $55,000 after purchasing an additional 803 shares during the last quarter. 66.03% of the stock is currently owned by institutional investors.

INTC traded up $0.52 during trading hours on Tuesday, hitting $50.46. 1,648,824 shares of the company’s stock were exchanged, compared to its average volume of 17,627,548. Intel has a 1-year low of $42.36 and a 1-year high of $59.59. The firm has a 50-day moving average price of $47.18. The company has a market capitalization of $221.12 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.54.

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Tuesday, August 6th. Intel’s dividend payout ratio (DPR) is currently 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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