Moloney Securities Asset Management LLC acquired a new position in STMicroelectronics (NYSE:STM – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,871 shares of the semiconductor producer’s stock, valued at approximately $207,000.
Other large investors have also recently modified their holdings of the company. Bank of Montreal Can increased its holdings in STMicroelectronics by 2,911.3% during the 1st quarter. Bank of Montreal Can now owns 134,004 shares of the semiconductor producer’s stock valued at $6,012,000 after purchasing an additional 129,554 shares during the period. BlackRock Inc. increased its holdings in STMicroelectronics by 9.9% during the 1st quarter. BlackRock Inc. now owns 3,530,155 shares of the semiconductor producer’s stock valued at $152,573,000 after purchasing an additional 318,347 shares during the period. Mariner LLC purchased a new position in STMicroelectronics during the 1st quarter valued at about $579,000. Northern Trust Corp increased its holdings in STMicroelectronics by 0.8% during the 1st quarter. Northern Trust Corp now owns 349,772 shares of the semiconductor producer’s stock valued at $15,117,000 after purchasing an additional 2,885 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in STMicroelectronics by 105.8% during the 1st quarter. Hsbc Holdings PLC now owns 5,672 shares of the semiconductor producer’s stock valued at $246,000 after purchasing an additional 103,964 shares during the period. Hedge funds and other institutional investors own 5.62% of the company’s stock.
Wall Street Analyst Weigh In
STM has been the topic of a number of research analyst reports. TD Cowen boosted their price target on STMicroelectronics from $56.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Susquehanna reduced their target price on STMicroelectronics from 55.00 to 54.00 in a report on Sunday, May 7th. Jefferies Financial Group upgraded STMicroelectronics from an “underperform” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, StockNews.com initiated coverage on STMicroelectronics in a report on Thursday, August 17th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.38.
STMicroelectronics Stock Performance
STM stock opened at $47.02 on Friday. The stock has a market capitalization of $42.71 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.60. STMicroelectronics has a 12-month low of $29.09 and a 12-month high of $55.85. The company has a current ratio of 2.67, a quick ratio of 1.92 and a debt-to-equity ratio of 0.17. The stock’s 50 day simple moving average is $49.39 and its 200 day simple moving average is $48.02.
STMicroelectronics (NYSE:STM – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The semiconductor producer reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.04). The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.37 billion. STMicroelectronics had a net margin of 25.36% and a return on equity of 33.67%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. As a group, research analysts forecast that STMicroelectronics will post 4.29 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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