Intel

Intel Reports Fourth-Quarter and Full-Year 2023 Financial Results News Summary — Fourth-quarter revenue was $15.4 billion, up 10 percent year-over-year (YoY). Full-year revenue was $54.2 billion, down 14 percent YoY. — Fourth-quarter earnings per share (EPS) attributable to Intel was $0.63; non-GAAP EPS attributable to Intel was $0.54. Full-year EPS attributable to Intel was $0.40; non-GAAP EPS attributable to Intel was $1.05. — Forecasting first-quarter 2024 revenue of $12.2 billion to $13.2 billion; expecting first-quarter EPS attributable to Intel of $(0.25) (non-GAAP EPS attributable to Intel of $0.13). SANTA CLARA, Calif.–(BUSINESS WIRE)–January 25, 2024– Intel Corporation today reported fourth-quarter and full-year 2023 financial results. “We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance,” said Pat Gelsinger, Intel CEO. “The quarter capped a year of tremendous progress on Intel’s transformation, where we consistently drove execution and accelerated innovation, resulting […]

Intel Guides For Q1 EPS of $0.13 on Revenue of $12.2-$13.2 Billion, Vs CIQ Analyst Consensus of $0.32/Share on Revenue of $14.2 Billion.

Intel sales rebounded in the fourth quarter, offering a signal of a strengthening PC market. The company says revenue rose 10% to $15.4 billion in 4Q, surpassing analysts estimates. The sales improvement helps Intel swing back to a profit, posting per-share earnings of 63 cents, ahead of the 21 cents forecast by analysts. The company’s computing segment saw revenue rise 33% from a year ago, helping offset a decline in data center and AI. Shares fall 6% to $46.58 after-hours.

Intel (INTC) late Thursday reported non-GAAP Q4 net income of $0.54 per share, improving on net income of $0.15 per share during the same quarter in 2022. Analysts polled by Capital IQ, on average, had been looking for normalized earnings of $0.45 per share by the chipmaker. Revenue for the three months ended Dec. 31 rose to $15.41 billion, compared with $14.04 billion a year ago. The analyst consensus was for $15.17 billion. Intel is projecting a non-GAAP profit of $0.13 per share on between $12.2 billion to $13.2 billion in revenue for the current quarter ending March 31. The Street sees the company earning $0.32 per share in Q1 on revenue of $14.15 billion. Intel shares were nearly 7% lower in extended trading.

Intel CEO Said Expect To Ship 40M AI-Enabled Personal Computers In 2024.

Intel Corporation‘s (NASDAQ:INTC) first-quarter guidance for 2024 has failed to meet revenue expectations by more than $1 billion, catching analysts off guard. What Happened: Matt Bryson, Senior Vice President at Wedbush Securities, in conversation with Yahoo Finance Live on Friday, analyzed the results and said he is “a bit surprised” at the extent of the guidance shortfall. Bryson argued that Intel’s decision to overship and maintain an excess inventory in Q4 resulted in a backlog that the company is now trying to manage. This situation has led to the current guidance shortfall, he explained. According to Bryson, data from Taiwan indicated a slowdown in PC production in the fourth quarter. He posited that Intel’s overshipping and a glut of inventory in Q4 have resulted in a current backlog, contributing to this disappointing forecast. Despite the initial dip, Bryson remained hopeful for Intel’s future. He acknowledged that the extraordinary demand during the COVID-19

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target to $50 from $39, on P/E of 18.6x our ’25 EPS view, near peers/above historical. We keep our ’24 EPS at $1.94 and boost ’25 to $2.69 from $2.41. Ahead of Q4 results set for after the close, we see EPS of $0.45 at $15.2B in revenue and a 46.5% gross margin. We look for indications that PC vendors still possess healthy inventories after a seasonal strong H2 last year along with improving landscape for ’24 data center server builds. Mobileye is a minor headwind. Commentary on the gross margin trajectory in ’24 will be critical (we see 47%) as well as capital spending plans (seen at $22B; capital intensity of 36%) that likely imply another year of negative FCF (cost cuts

Intel (INTC) is likely to see “modest” outperformance in Q4, but could miss Q1 consensus amid multiple headwinds, BofA Securities said in a Tuesday note. While BofA forecasts Q4 to be in line with or slightly ahead, with projected figures of $15.1 billion in sales and 46.5% gross margin, it expects a miss in Q1, pointing to headwinds such as Mobileye outlook cut, PC seasonality, weak industrial/auto, networking and muted enterprise. “We tweak down Q1 and CY24 sales, but believe the GM trajectory could surprise to the upside as INTC benefits from its cost restructuring actions, leading to higher EPS,” BofA said. The brokerage reiterated its neutral rating on Intel with a price objective of $50.

Intel (NASDAQ:INTC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 14.61% Raymond James $48 → $54 Maintains Outperform 01/18/2024 -10.86% Susquehanna $38 → $42 Maintains Neutral 01/16/2024 -6.61% Barclays $32 → $44 Maintains Equal-Weight 01/04/2024 40.08% Tigress Financial $46 → $66 Maintains Buy 01/02/2024 -4.49% Stifel $38 → $45 Maintains Hold 12/15/2023 6.12% B of A Securities $32 → $50 Upgrades Underperform → Neutral 12/12/2023 1.88% Raymond James $42 → $48 Maintains Outperform 12/05/2023 10.37% Benchmark $42 → $52 Maintains Buy 11/16/2023 6.12% Mizuho $37 → $50 Upgrades Neutral → Buy 10/27/2023 -17.22% Morgan Stanley $35 → $39 Maintains Equal-Weight 10/27/2023 -63.92% Rosenblatt → $17 Reiterates Sell → Sell 10/27/2023 -15.1% Needham → $40 Reiterates Buy → Buy 10/27/2023 -29.96% HSBC $27 → $33 Upgrades Reduce → Hold 10/25/2023 -15.1% Raymond James $42 → $40 Maintains Outperform 10/19/2023 -19.35% Susquehanna $37

Raymond James analyst Srini Pajjuri maintains Intel (NASDAQ:INTC) with a Outperform and raises the price target from $48 to $54.

Intel (NASDAQ:INTC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 -5.83% Barclays $32 → $44 Maintains Equal-Weight 01/04/2024 41.25% Tigress Financial $46 → $66 Maintains Buy 01/02/2024 -3.69% Stifel $38 → $45 Maintains Hold 12/15/2023 7.01% B of A Securities $32 → $50 Upgrades Underperform → Neutral 12/12/2023 2.73% Raymond James $42 → $48 Maintains Outperform 12/05/2023 11.29% Benchmark $42 → $52 Maintains Buy 11/16/2023 7.01% Mizuho $37 → $50 Upgrades Neutral → Buy 10/27/2023 -16.53% Morgan Stanley $35 → $39 Maintains Equal-Weight 10/27/2023 -63.62% Rosenblatt → $17 Reiterates Sell → Sell 10/27/2023 -14.39% Needham → $40 Reiterates Buy → Buy 10/27/2023 -29.37% HSBC $27 → $33 Upgrades Reduce → Hold 10/25/2023 -14.39% Raymond James $42 → $40 Maintains Outperform 10/19/2023 -18.67% Susquehanna $37 → $38 Maintains Neutral 10/05/2023 -14.39% Needham → $40 Reiterates Buy → Buy 10/04/2023 19.85% Northland Capital

Barclays analyst Ryan Macwilliams maintains Intel (NASDAQ:INTC) with a Equal-Weight and raises the price target from $32 to $44.