Ameriprise Financial Inc. Has $10.20 Million Position in STMicroelectronics (NYSE:STM)

Ameriprise Financial Inc. grew its holdings in STMicroelectronics (NYSE:STM) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 408,573 shares of the semiconductor producer’s stock after buying an additional 11,993 shares during the quarter. Ameriprise Financial Inc.’s holdings in STMicroelectronics were worth $10,202,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. increased its position in STMicroelectronics by 131.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer’s stock valued at $85,232,000 after acquiring an additional 1,939,088 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of STMicroelectronics by 576.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer’s stock valued at $47,962,000 after purchasing an additional 1,636,707 shares during the last quarter. Invesco Ltd. increased its holdings in shares of STMicroelectronics by 94.4% in the fourth quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer’s stock valued at $44,142,000 after purchasing an additional 858,624 shares in the last quarter. Barclays PLC raised its position in STMicroelectronics by 22.1% in the 4th quarter. Barclays PLC now owns 1,281,006 shares of the semiconductor producer’s stock worth $31,987,000 after purchasing an additional 231,668 shares during the last quarter. Finally, Brandes Investment Partners LP acquired a new position in STMicroelectronics during the 4th quarter worth $15,570,000. 5.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STM has been the topic of several research reports. Barclays lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 22nd. TD Cowen upped their target price on shares of STMicroelectronics from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, April 25th. Morgan Stanley raised shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a research report on Friday, April 25th. Finally, Sanford C. Bernstein lowered shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $33.00 to $26.00 in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.97.

STMicroelectronics Price Performance

Shares of STM stock opened at $25.84 on Tuesday. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 12-month low of $17.25 and a 12-month high of $45.39. The firm has a fifty day moving average of $22.54 and a 200-day moving average of $24.26. The firm has a market capitalization of $23.21 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, equities research analysts forecast that STMicroelectronics will post 0.85 earnings per share for the current year.

About STMicroelectronics

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.