Natixis Advisors L.P. grew its stake in STMicroelectronics (NYSE:STM – Free Report) by 20.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,181 shares of the semiconductor producer’s stock after buying an additional 19,719 shares during the quarter. Natixis Advisors L.P.’s holdings in STMicroelectronics were worth $6,268,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its holdings in STMicroelectronics by 1,773.6% during the first quarter. Envestnet Asset Management Inc. now owns 5,267,061 shares of the semiconductor producer’s stock worth $19,857,000 after purchasing an additional 4,985,946 shares during the last quarter. Marshall Wace LLP acquired a new position in STMicroelectronics during the fourth quarter worth $44,110,000. Point72 Asset Management L.P. boosted its holdings in STMicroelectronics by 63.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,449,870 shares of the semiconductor producer’s stock worth $87,142,000 after purchasing an additional 952,720 shares during the last quarter. Cookson Peirce & Co. Inc. acquired a new stake in STMicroelectronics in the first quarter valued at $38,588,000. Finally, BlackRock Inc. lifted its stake in STMicroelectronics by 9.9% in the first quarter. BlackRock Inc. now owns 3,530,155 shares of the semiconductor producer’s stock valued at $152,573,000 after acquiring an additional 318,347 shares during the last quarter. Institutional investors and hedge funds own 5.62% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on STM. StockNews.com began coverage on shares of STMicroelectronics in a research note on Thursday, August 17th. They issued a “buy” rating for the company. TD Cowen increased their price target on shares of STMicroelectronics from $56.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Susquehanna cut their price target on shares of STMicroelectronics from 55.00 to 54.00 in a research note on Sunday, May 7th. Finally, Jefferies Financial Group raised shares of STMicroelectronics from an “underperform” rating to a “hold” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.38.
STMicroelectronics Price Performance
NYSE:STM opened at $47.80 on Thursday. STMicroelectronics has a 52 week low of $29.09 and a 52 week high of $55.85. The firm has a market cap of $43.42 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 2.19 and a beta of 1.60. The firm’s 50-day simple moving average is $49.40 and its 200 day simple moving average is $48.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.92 and a current ratio of 2.67.
STMicroelectronics (NYSE:STM – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The semiconductor producer reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.04). STMicroelectronics had a return on equity of 33.67% and a net margin of 25.36%. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the business posted $0.92 earnings per share. STMicroelectronics’s revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that STMicroelectronics will post 4.29 earnings per share for the current 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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