Wipfli Financial Advisors LLC purchased a new position in shares of STMicroelectronics (NYSE:STM – Get Rating) in the 3rd quarter, Holdings Channel reports. The fund purchased 4,589 shares of the semiconductor producer’s stock, valued at approximately $142,000.
Several other institutional investors have also modified their holdings of STM. Woodline Partners LP grew its position in shares of STMicroelectronics by 282.5% during the second quarter. Woodline Partners LP now owns 3,172,116 shares of the semiconductor producer’s stock worth $99,826,000 after acquiring an additional 2,342,701 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in STMicroelectronics by 207.9% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,116,600 shares of the semiconductor producer’s stock valued at $35,139,000 after buying an additional 754,000 shares in the last quarter. Renaissance Technologies LLC grew its position in STMicroelectronics by 559.0% in the 2nd quarter. Renaissance Technologies LLC now owns 781,451 shares of the semiconductor producer’s stock valued at $24,592,000 after buying an additional 662,870 shares in the last quarter. BlackRock Inc. grew its position in STMicroelectronics by 9.9% in the 1st quarter. BlackRock Inc. now owns 3,530,155 shares of the semiconductor producer’s stock valued at $152,573,000 after buying an additional 318,347 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in STMicroelectronics by 1,636.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 335,647 shares of the semiconductor producer’s stock valued at $10,563,000 after acquiring an additional 316,317 shares during the last quarter. Institutional investors own 6.49% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. William Blair assumed coverage on shares of STMicroelectronics in a report on Monday, October 17th. They issued a “market perform” rating for the company. Susquehanna assumed coverage on shares of STMicroelectronics in a report on Monday, December 12th. They issued a “positive” rating and a $50.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of STMicroelectronics from €48.00 ($51.61) to €45.00 ($48.39) and set a “buy” rating for the company in a report on Friday, October 28th. Morgan Stanley assumed coverage on shares of STMicroelectronics in a report on Tuesday, November 8th. They issued an “equal weight” rating for the company. Finally, StockNews.com began coverage on shares of STMicroelectronics in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.30.
STMicroelectronics Price Performance
STMicroelectronics (NYSE:STM – Get Rating) last issued its earnings results on Thursday, October 27th. The semiconductor producer reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.12. The company had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.19 billion. STMicroelectronics had a return on equity of 34.37% and a net margin of 22.69%. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. Equities research analysts expect that STMicroelectronics will post 4 EPS for the current fiscal year.
STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.
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