Mechanics Bank Trust Department Takes Position in Intel Co. (NASDAQ:INTC)

Mechanics Bank Trust Department purchased a new stake in shares of Intel Co. (NASDAQ:INTC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,395 shares of the chip maker's stock, valued at approximately $418,000.

A number of other hedge funds have also modified their holdings of the company. Synergy Investment Management LLC bought a new position in shares of Intel during the 4th quarter valued at approximately $27,000. Vermillion Wealth Management Inc. bought a new stake in Intel during the 4th quarter valued at about $27,000. BankPlus Trust Department bought a new stake in Intel during the 4th quarter valued at $28,000. Keystone Financial Group Inc. bought a new position in shares of Intel during the 4th quarter worth approximately $29,000. Finally, Conquis Financial LLC acquired a new stake in Intel in the fourth quarter valued at approximately $32,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Up 1.5%

Intel stock traded up $0.30 during trading hours on Thursday, hitting $20.55. 27,363,946 shares of the stock traded hands, compared to its average volume of 81,378,930. Intel Co. has a one year low of $17.67 and a one year high of $37.16. The company has a market cap of $89.62 billion, a PE ratio of -4.68 and a beta of 1.15. The firm's 50-day moving average price is $20.48 and its two-hundred day moving average price is $21.34. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. During the same period in the previous year, the business earned $0.18 EPS. The company's quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on INTC shares. Cantor Fitzgerald decreased their price objective on Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Wall Street Zen raised shares of Intel from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. cut their price target on Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Rosenblatt Securities decreased their price objective on Intel from $18.00 to $14.00 and set a "sell" rating for the company in a report on Friday, April 25th. Finally, Sanford C. Bernstein dropped their target price on Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $21.57.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.