Intel (NTC) Reports Second-Quarter 2022 Financial Results. Analysts lowered their price targets

Posted by:Alex Belov Posted on:Aug 2,2022

Intel published a weak report for the 2nd quarter of 2022. Analyst firms Roth Capital, UBS, Truist Securities, Morgan Stanley and Deutsche Bank lowered their price targets for Intel (NTC) stock following the release of their Q2 2022 report. Intel’s financial performance was very weak and did not exceed analysts’ expectations.

Intel Reports Second-Quarter 2022 Financial Results

  • – EPS Earnings per share: $0.29 ($0.70 forecast)
    – Revenue: $15.3 (forecast $17.93B)

After the publication of the report, shares of Intel (NTC) fell immediately by 10%. The company’s gross margin decreased from 50.4% to 36.5%. The company’s total revenue decreased by 17%. The company had standard issues that affected the report. The problems are related to the disruption of supply chains, the shutdown of the Chinese economy due to coronavirus restrictions, a slowdown in economic activity, and a decrease in demand for electronics. Intel plans to return revenue to a comfortable indicator (at the level of 51%) only by the 4th quarter of 2022. The company plans to increase revenue by increasing prices for processors and other computer components.

Weak outlook for Q3 2022. According to the forecast for the 3rd quarter of 2022, EPS will be at the level of $0.35 (analysts forecast $0.86). The company also downgraded its full-year outlook. At the end of 2022, EPS will be $ 2.3 (this is 37% lower than analysts’ forecasts).

Intel (INTC) share price on August 1 is $36.96.

Analyst firms lowered their price targets for Intel (NTC) stock following the release of the Q2 2022 report.

DATE: 07/29/2022
Analyst "Baird"
4.5/5
Consensus Rating = Outperform
Price Target Change for the next 12 months = $60 → $40
Percent upside potential for stocks
8.23%
DATE: 07/29/2022
Analyst "Susquehanna"
4.5/5
Consensus Rating = Neutral
Price Target Change for the next 12 months = $40 → $33
Percent upside potential for stocks
-10.71%
DATE: 07/29/2022
Analyst "Rosenblatt"
4.5/5
Consensus Rating = Sell
Price Target Change for the next 12 months = $40 → $30
Percent upside potential for stocks
-18.83%
DATE: 07/29/2022
Analyst "Barclays"
4.5/5
Consensus Rating = Underweight
Price Target Change for the next 12 months = $40 → $35
Percent upside potential for stocks
-5.3%
DATE: 07/29/2022
Analyst "Roth Capital"
4.5/5
Consensus Rating = Neutral
Price Target Change for the next 12 months = $48 → $40
Percent upside potential for stocks
8.23%
DATE: 07/29/2022
Analyst "Morgan Stanley"
4.5/5
Consensus Rating = Underweight
Price Target Change for the next 12 months = $46 → $36
Percent upside potential for stocks
-2.6%
DATE: 07/29/2022
Analyst "Deutsche Bank "
4.5/5
Consensus Rating = Hold
Price Target Change for the next 12 months = $45 → $38
Percent upside potential for stocks
2.81%
DATE: 07/29/2022
Analyst "Truist Securities"
4.5/5
Consensus Rating = Hold
Price Target Change for the next 12 months = $49 → $40
Percent upside potential for stocks
8.23%
DATE: 07/29/2022
Analyst "UBS"
4.5/5
Consensus Rating = Neutral
Price Target Change for the next 12 months = $51 → $41
Percent upside potential for stocks
10.93%
Share analytics

Alex Belov

Developers by oneinveststock.com. Analyst, investor

You must be logged in to post a comment