The chip maker reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05, Marketbeat reports. That estimate is similar to the expectations of analysts polled by Thomson Reuters, who estimated revenue of $14.83 billion.
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The company was not “rethinking the long-term growth” of the business, Chief Executive Brian Krzanich said on a post-earnings conference call.
In other news, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction on Wednesday, July 22nd.
Restructuring charges: approximately $25 million. The disclosure for this sale can be found here. Shares slipped 0.5%, but reversed after hours.
But no matter how Moorhead and Krzanich see it, Intel’s investors were less than impressed – at the close of trading the company’s shares were down by more than three percent. The stock has a market cap of $152.32 billion and a P/E ratio of 13.58. The firm’s 50-day moving average price is $29.37 and its 200-day moving average price is $30.69. Intel has a one year low of $24.87 and a one year high of $37.90. What the quarterly financial numbers show is a company that is adapting to the rapid changes that are roiling much of the tech industry, with the growing importance of not only the cloud business, but other areas such as memory and the Internet of things (IoT). The ex-dividend date of this dividend is Wednesday, November 4th. Shares of Intel Corporation rose by 3.2% in the last five trading days and 9.3% for the last 4 weeks.
Several research firms recently weighed in on INTC.
A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is due on November 16 to shareholders of record as of October 30.
Intel had previously forecast capital expenditure of US$7.7 billion, plus or minus US$500 million.
Intel spent $1 billion on share buy-backs.
Reports have said that Intel’s bid to buy Altera Corp for $6.7bn in an attempt to expand parts of its chip business could be given the go-ahead from the European Union as soon as this week. The company now has an average rating of “Hold” and a consensus price target of $34.81.
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Intel Sign at its corporate headquarters. The Organization sells these platforms to original equipment manufacturers (NASDAQ:INTC), original design manufacturers (ODMs), and industrial and communications equipment manufacturing companies in the computing and communications sectors. The Companys platforms are used in a range of applications, such as personal computers (PCs) (including Ultrabook systems), data centers, tablets, smartphones, automobiles, automated factory systems and medical devices. At the Software and services operating segments, revenue was virtually unchanged at Dollars 556 million.
