LPL Financial LLC Purchases 14,753 Shares of STMicroelectronics (NYSE:STM)

LPL Financial LLC increased its position in STMicroelectronics (NYSE:STM) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,137 shares of the semiconductor producer’s stock after acquiring an additional 14,753 shares during the quarter. LPL Financial LLC’s holdings in STMicroelectronics were worth $5,891,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of STM. Marshall Wace LLP bought a new position in shares of STMicroelectronics during the 4th quarter worth about $44,110,000. Point72 Asset Management L.P. increased its holdings in shares of STMicroelectronics by 63.6% during the 4th 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 period. Cookson Peirce & Co. Inc. bought a new position in shares of STMicroelectronics during the 1st quarter worth about $38,588,000. BlackRock Inc. increased its holdings in shares of STMicroelectronics by 9.9% during the 1st quarter. BlackRock Inc. now owns 3,530,155 shares of the semiconductor producer’s stock worth $152,573,000 after purchasing an additional 318,347 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of STMicroelectronics by 4.3% during the 4th quarter. Van ECK Associates Corp now owns 4,411,591 shares of the semiconductor producer’s stock worth $156,921,000 after purchasing an additional 180,783 shares during the period. Institutional investors own 5.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of STMicroelectronics from an “underperform” rating to a “hold” rating in a report on Wednesday, July 12th. StockNews.com started coverage on shares of STMicroelectronics in a research report on Thursday, August 17th. They set a “buy” rating on the stock. TD Cowen lifted 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. Finally, Susquehanna decreased their target price on shares of STMicroelectronics from 55.00 to 54.00 in a research report on Sunday, May 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, STMicroelectronics presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

STMicroelectronics Price Performance

NYSE:STM opened at $47.24 on Friday. The firm has a market cap of $42.91 billion, a PE ratio of 10.18, 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 quick ratio of 1.92, a current ratio of 2.67 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $49.40 and its two-hundred day moving average price is $48.04.

STMicroelectronics (NYSE:STM) 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). The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.37 billion. STMicroelectronics had a net margin of 25.36% and a return on equity of 33.67%. STMicroelectronics’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 earnings per share. On average, equities analysts anticipate that STMicroelectronics will post 4.29 EPS for the current fiscal year.

STMicroelectronics Company 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.