Harvest Fund Management Co. Ltd Makes New Investment in STMicroelectronics (NYSE:STM)

Harvest Fund Management Co. Ltd acquired a new stake in shares of STMicroelectronics (NYSE:STM) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,000 shares of the semiconductor producer’s stock, valued at approximately $350,000.

Other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC bought a new position in shares of STMicroelectronics during the 4th quarter worth approximately $229,000. First Trust Direct Indexing L.P. increased its holdings in shares of STMicroelectronics by 1.4% in the first quarter. First Trust Direct Indexing L.P. now owns 17,883 shares of the semiconductor producer’s stock valued at $957,000 after purchasing an additional 250 shares during the period. Naples Global Advisors LLC raised its stake in shares of STMicroelectronics by 47.5% in the first quarter. Naples Global Advisors LLC now owns 12,860 shares of the semiconductor producer’s stock worth $688,000 after purchasing an additional 4,140 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in STMicroelectronics by 3.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 121,231 shares of the semiconductor producer’s stock worth $6,485,000 after buying an additional 4,453 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in STMicroelectronics by 6.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,898 shares of the semiconductor producer’s stock valued at $707,000 after acquiring an additional 1,122 shares during the period. 5.62% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Trading Up 0.9 %

Shares of NYSE:STM opened at $44.68 on Friday. STMicroelectronics has a 52 week low of $29.09 and a 52 week high of $55.85. The company’s 50 day moving average is $48.72 and its two-hundred day moving average is $47.80. The company has a market cap of $40.58 billion, a PE ratio of 9.63, a P/E/G ratio of 2.07 and a beta of 1.63. The company has a current ratio of 2.67, a quick ratio of 1.92 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, July 27th. The semiconductor producer reported $1.06 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.04). STMicroelectronics had a net margin of 25.36% and a return on equity of 33.67%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period last year, the company earned $0.92 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts predict that STMicroelectronics will post 4.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

STM has been the topic of a number of recent research reports. Jefferies Financial Group upgraded STMicroelectronics from an “underperform” rating to a “hold” rating in a research note on Wednesday, July 12th. TD Cowen increased their target price on STMicroelectronics from $56.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, StockNews.com assumed coverage on STMicroelectronics in a research note on Thursday, August 17th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.38.

STMicroelectronics Profile

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.