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

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Advisory LLC boosted its position in shares of Intel by 4.3% during the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after purchasing an additional 409 shares during the period. Evergreen Capital Management LLC lifted its position in shares of Intel by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after purchasing an additional 419 shares during the last quarter. Federated Hermes Inc. raised its stake in Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock worth $3,263,000 after acquiring an additional 456 shares in the last quarter. CFM Wealth Partners LLC raised its stake in Intel by 4.0% during the 4th quarter. CFM Wealth Partners LLC now owns 13,114 shares of the chip maker's stock worth $263,000 after acquiring an additional 500 shares in the last quarter. Finally, Ausdal Financial Partners Inc. raised its stake in Intel by 2.0% during the 4th quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock worth $501,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Down 1.3%

NASDAQ INTC traded down $0.26 during trading hours on Thursday, hitting $19.99. The company's stock had a trading volume of 72,397,186 shares, compared to its average volume of 81,696,997. Intel Co. has a 52 week low of $17.67 and a 52 week high of $37.16. The company's 50-day simple moving average is $20.43 and its two-hundred day simple moving average is $21.31. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $87.20 billion, a PE ratio of -4.56 and a beta of 1.15.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS 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 firm 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 business's revenue for the quarter was down .4% on a year-over-year basis. Research analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INTC. Bank of America upgraded shares of Intel from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $19.00 to $25.00 in a research note on Thursday, March 13th. Rosenblatt Securities reduced their price objective on shares of Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a research note on Friday, April 25th. Wall Street Zen raised shares of Intel from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Wells Fargo & Company dropped their price objective on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Finally, Morgan Stanley lowered their price target on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Intel presently has an average rating of "Hold" and a consensus target price of $21.57.

Intel Profile

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.