STMicroelectronics (NYSE:STM) Stock Holdings Reduced by Raymond James & Associates

Raymond James & Associates decreased its position in STMicroelectronics (NYSE:STM) by 24.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 153,498 shares of the semiconductor producer’s stock after selling 50,558 shares during the quarter. Raymond James & Associates’ holdings in STMicroelectronics were worth $6,029,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of STMicroelectronics by 55.3% during the 1st quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock valued at $250,831,000 after acquiring an additional 2,065,387 shares during the last quarter. Lazard Asset Management LLC grew its holdings in STMicroelectronics by 1,564,831.9% during the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock valued at $46,690,000 after purchasing an additional 1,079,734 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of STMicroelectronics by 337.8% in the fourth quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock valued at $25,561,000 after purchasing an additional 394,147 shares during the period. Grand Alliance Asset Management Ltd bought a new stake in shares of STMicroelectronics during the 4th quarter worth $14,036,000. Finally, Delta Global Management LP grew its stake in STMicroelectronics by 31.3% in the 1st quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer’s stock valued at $45,300,000 after buying an additional 249,905 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Down 1.6 %

STM stock opened at $31.00 on Thursday. STMicroelectronics has a 1-year low of $28.19 and a 1-year high of $51.27. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $35.97 and its 200-day moving average is $40.60. The firm has a market cap of $28.01 billion, a P/E ratio of 7.95, a P/E/G ratio of 3.68 and a beta of 1.59.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The business’s revenue for the quarter was down 25.3% compared to the same quarter last year. Equities analysts anticipate that STMicroelectronics will post 1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on STM. TD Cowen decreased their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Craig Hallum reduced their price objective on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Morgan Stanley downgraded shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and upped their price objective for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.13.

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.