STMicroelectronics (NYSE:STM) Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC cut its holdings in shares of STMicroelectronics (NYSE:STM) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,188 shares of the semiconductor producer’s stock after selling 389 shares during the quarter. Checchi Capital Advisers LLC’s holdings in STMicroelectronics were worth $409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc acquired a new position in shares of STMicroelectronics during the 2nd quarter worth approximately $31,000. Hexagon Capital Partners LLC boosted its stake in STMicroelectronics by 63.0% during the second quarter. Hexagon Capital Partners LLC now owns 779 shares of the semiconductor producer’s stock worth $39,000 after buying an additional 301 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in STMicroelectronics by 40.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the semiconductor producer’s stock worth $54,000 after buying an additional 311 shares during the last quarter. Psagot Value Holdings Ltd. Israel acquired a new position in shares of STMicroelectronics during the 1st quarter valued at about $66,000. Finally, Global Retirement Partners LLC boosted its position in shares of STMicroelectronics by 1,013.8% during the 1st quarter. Global Retirement Partners LLC now owns 1,615 shares of the semiconductor producer’s stock valued at $69,000 after acquiring an additional 1,470 shares during the last quarter. 5.62% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Stock Up 0.9 %

STMicroelectronics stock opened at $45.75 on Friday. STMicroelectronics has a 52-week low of $34.59 and a 52-week high of $55.85. The company has a current ratio of 2.94, a quick ratio of 2.17 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $42.33 and its two-hundred day moving average is $45.64.

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

Analyst Ratings Changes

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