Intel Corp. (NASDAQ: INTC) is set to report its earnings Tuesday after the market closes. This processor leader and semiconductor giant posted strong earnings for the previous quarter. There are hopes for a repeat performance, but the price of the stock has been hit hard with the market and with Microchip Technology’s revenue warning last week.
Thomson Reuters has consensus earnings estimates of $0.65 per share and $14.44 billion in revenues. This would compare to the previous year’s third-quarter earnings of $0.58 per shares and $13.48 billion in revenues. Estimates for the fourth quarter are $0.62 in earnings per share and revenue of $14.47 billion.
Intel has traded Monday morning at $32.20. In the weeks ahead of this earnings report, the stock made a significant jump of 9.3% to $34.42 on July 16 from the previous close $31.50, after the second-quarter earnings were reported. Closing prices held within the range of $33 to $35 following the previous earnings, and the share price had made no large shift until Friday, when it fell 5% to $31.91.
The 200-day moving average is still well below the current share price — down at $28.71. In late September the share price crossed under the 50-day moving average, which now reads at $34.24, and the 50-day average had acted as resistance for a week or so prior to the latest selling pressure.
Shares of Intel have a consensus analyst price target of $ 34.36 and a 52-week trading range of $23.03 to $35.56. Intel has a market cap of $159 billion.