First Citizens Bank & Trust Co. Trims Stake in Intel Co. (NASDAQ:INTC)

First Citizens Bank & Trust Co. lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,451 shares of the chip maker’s stock after selling 3,458 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Intel were worth $1,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of INTC. Synergy Investment Management LLC purchased a new position in shares of Intel during the fourth quarter valued at about $27,000. Vermillion Wealth Management Inc. purchased a new stake in Intel in the fourth quarter worth about $27,000. BankPlus Trust Department purchased a new stake in Intel in the fourth quarter worth about $28,000. Conquis Financial LLC purchased a new stake in Intel in the fourth quarter worth about $32,000. Finally, Pillar Financial Advisors LLC purchased a new stake in Intel in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Up 2.1%

Shares of INTC stock opened at $20.48 on Tuesday. Intel Co. has a 12 month low of $17.67 and a 12 month high of $37.16. The stock has a market cap of $89.33 billion, a P/E ratio of -4.68 and a beta of 1.12. 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 50 day simple moving average of $20.36 and a two-hundred day simple moving average of $21.21.

Intel (NASDAQ:INTC) last announced its 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. The business had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. On average, research analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on INTC shares. Mizuho cut their price objective on shares of Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. UBS Group cut their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Sanford C. Bernstein cut their price objective on shares of Intel from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, April 25th. Finally, Cfra Research upgraded shares of Intel to a “hold” rating in a research note on Friday, April 25th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.