STMicroelectronics (NYSE:STM) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. cut its holdings in STMicroelectronics (NYSE:STMFree Report) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,796 shares of the semiconductor producer’s stock after selling 2,951 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in STMicroelectronics were worth $769,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. SFE Investment Counsel grew its position in shares of STMicroelectronics by 2.8% in the fourth quarter. SFE Investment Counsel now owns 9,551 shares of the semiconductor producer’s stock valued at $479,000 after purchasing an additional 258 shares during the last quarter. Blue Trust Inc. boosted its position in STMicroelectronics by 11.2% during the fourth quarter. Blue Trust Inc. now owns 2,701 shares of the semiconductor producer’s stock worth $135,000 after acquiring an additional 272 shares during the last quarter. Gallacher Capital Management LLC boosted its position in STMicroelectronics by 3.8% during the fourth quarter. Gallacher Capital Management LLC now owns 8,905 shares of the semiconductor producer’s stock worth $446,000 after acquiring an additional 327 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its position in STMicroelectronics by 8.2% during the first quarter. Capital Advisors Wealth Management LLC now owns 4,822 shares of the semiconductor producer’s stock worth $209,000 after acquiring an additional 365 shares during the last quarter. Finally, Wealth Alliance boosted its position in STMicroelectronics by 6.7% during the fourth quarter. Wealth Alliance now owns 6,471 shares of the semiconductor producer’s stock worth $324,000 after acquiring an additional 405 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Stock Performance

Shares of STM stock opened at $42.41 on Friday. The company’s fifty day simple moving average is $41.56 and its 200-day simple moving average is $43.70. STMicroelectronics has a 52 week low of $37.21 and a 52 week high of $55.85. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17. The company has a market cap of $38.29 billion, a PE ratio of 10.87, a P/E/G ratio of 3.86 and a beta of 1.59.

STMicroelectronics (NYSE:STMGet Free Report) last issued its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the prior year, the business posted $1.10 EPS. The business’s revenue was down 18.4% on a year-over-year basis. As a group, equities research analysts anticipate that STMicroelectronics will post 2.13 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on STM. The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and raised their target price for the stock from $35.50 to $45.80 in a research report on Tuesday, June 18th. StockNews.com upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. William Blair restated a “market perform” rating on shares of STMicroelectronics in a research report on Friday, April 26th. Susquehanna reaffirmed a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research note on Monday, April 8th. Finally, Berenberg Bank raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.76.

Check Out Our Latest Stock Analysis on STM

STMicroelectronics Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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