Beck Bode LLC Makes New Investment in STMicroelectronics (NYSE:STM)

Beck Bode LLC acquired a new position in shares of STMicroelectronics (NYSE:STM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,598 shares of the semiconductor producer’s stock, valued at approximately $380,000.

A number of other large investors have also recently bought and sold shares of the company. Allworth Financial LP grew its stake in STMicroelectronics by 15.1% during the second quarter. Allworth Financial LP now owns 1,521 shares of the semiconductor producer’s stock worth $76,000 after buying an additional 200 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in shares of STMicroelectronics by 8.3% in the 1st quarter. Belpointe Asset Management LLC now owns 3,092 shares of the semiconductor producer’s stock valued at $165,000 after purchasing an additional 238 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of STMicroelectronics by 1.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 20,182 shares of the semiconductor producer’s stock valued at $1,079,000 after purchasing an additional 284 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of STMicroelectronics by 63.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 779 shares of the semiconductor producer’s stock valued at $39,000 after purchasing an additional 301 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of STMicroelectronics by 40.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the semiconductor producer’s stock valued at $54,000 after purchasing an additional 311 shares in the last quarter. 5.62% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

NYSE STM traded down $0.04 during mid-day trading on Thursday, hitting $45.52. The company’s stock had a trading volume of 703,729 shares, compared to its average volume of 3,498,116. The company’s 50 day simple moving average is $42.28 and its 200 day simple moving average is $45.62. STMicroelectronics has a twelve month low of $34.59 and a twelve month high of $55.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.17 and a current ratio of 2.94.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor producer reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. The firm had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.42 billion. STMicroelectronics had a net margin of 25.15% and a return on equity of 30.92%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. As a group, research analysts expect that STMicroelectronics will post 4.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on STM. Morgan Stanley upgraded shares of STMicroelectronics from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 1st. Susquehanna dropped their price objective on shares of STMicroelectronics from $65.00 to $55.00 and set a “positive” rating for the company in a report on Tuesday, October 24th. StockNews.com began coverage on shares of STMicroelectronics in a report on Thursday, October 5th. They issued a “buy” rating for the company. TD Cowen raised their price objective on shares of STMicroelectronics from $56.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $35.00 price objective (down previously from $50.00) on shares of STMicroelectronics in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, STMicroelectronics presently has an average rating of “Moderate Buy” and an average target price of $53.00.

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.