Park Avenue Securities LLC bought a new stake in STMicroelectronics (NYSE:STM – Get Rating) during the 3rd quarter, Holdings Channel reports. The firm bought 10,146 shares of the semiconductor producer’s stock, valued at approximately $314,000.
Other hedge funds have also made changes to their positions in the company. Vestmark Advisory Solutions Inc. lifted its holdings in STMicroelectronics by 130.8% in the second quarter. Vestmark Advisory Solutions Inc. now owns 21,546 shares of the semiconductor producer’s stock valued at $678,000 after acquiring an additional 12,210 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of STMicroelectronics by 2.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 16,964 shares of the semiconductor producer’s stock worth $535,000 after purchasing an additional 342 shares during the period. Hoylecohen LLC increased its position in shares of STMicroelectronics by 9.4% during the 2nd quarter. Hoylecohen LLC now owns 33,450 shares of the semiconductor producer’s stock worth $1,053,000 after purchasing an additional 2,875 shares during the last quarter. Cerity Partners LLC purchased a new stake in STMicroelectronics in the 2nd quarter valued at about $364,000. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in STMicroelectronics by 207.9% in the second 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 during the last quarter. Hedge funds and other institutional investors own 6.49% of the company’s stock.
Wall Street Analyst Weigh In
STM has been the subject of a number of recent analyst reports. Barclays started coverage on shares of STMicroelectronics in a research report on Tuesday, January 17th. They set an “overweight” rating for the company. Morgan Stanley assumed coverage on STMicroelectronics in a research report on Tuesday, November 8th. They issued an “equal weight” rating on the stock. The Goldman Sachs Group lowered STMicroelectronics from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 10th. Sanford C. Bernstein began coverage on STMicroelectronics in a report on Wednesday, January 18th. They issued an “outperform” rating on the stock. Finally, Societe Generale set a €71.00 ($77.17) target price on STMicroelectronics in a report on Tuesday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” 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 the consensus estimate of $1.04 by $0.12. STMicroelectronics had a net margin of 22.69% and a return on equity of 34.37%. The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was up 35.2% compared to the same quarter last year. Analysts anticipate that STMicroelectronics will post 4 earnings per share 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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