What's Going On With Intel Shares Friday?

Intel Corporation INTC stock originally traded higher on Friday but has since reversed and began trading lower after the company on Thursday reported 2024 fiscal-year fourth-quarter earnings.

Intel reported sales of $14.30 billion, beating analysts estimate of $13.81 billion, but representing a 7% year-over-year decline. In addition, it reported adjusted earnings per share of 13 cents, beating analysts estimate of 12 cents.

“Our renewed focus on strengthening and simplifying our product portfolio, combined with continued progress on our process roadmap, is positioning us to better serve the needs of our customers. Dave and I are taking actions to enhance our competitive position and create shareholder value,” said Michelle Johnston Holthaus, interim co-CEO of Intel and CEO of Intel Products.

Intel announced guidance for the 2025 fiscal-year first-quarter. It sees revenue between $11.7 billion and $12.7 billion, versus analysts estimate of $12.87 billion. Intel guided Non-GAAP earnings per share of $0, versus analysts estimate of 9 cents.

“Our Q1 outlook reflects seasonal weakness magnified by macro uncertainties, further inventory digestion and competitive dynamics. We will remain highly focused on execution to build on our progress and unlock value,” said David Zinsner, interim co-CEO and CFO of Intel.

Analyst Changes: Following the earnings report, several analysts issued price target adjustments.

• Roth MKM analyst Suji Desilva maintained a Neutral rating on Intel and lowered the price target from $25 to $20.
• Needham analyst Quinn Bolton reiterated a Hold rating on Intel.
• Benchmark analyst Cody Acree reiterated a Hold rating on Intel.

Related Link: Earnings Breakdown: Orrstown Finl Servs Q4

INTC Price Action: At the time of writing, Intel shares are moving 1.04% lower at $19.80, according to data from Benzinga Pro.

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