Envestnet Asset Management Inc. Sells 25,202 Shares of STMicroelectronics N.V. $STM

Envestnet Asset Management Inc. lessened its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,564 shares of the semiconductor producer’s stock after selling 25,202 shares during the period. Envestnet Asset Management Inc.’s holdings in STMicroelectronics were worth $7,166,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Peterson Wealth Services grew its stake in shares of STMicroelectronics by 3,086.5% in the third quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock worth $33,000 after acquiring an additional 1,142 shares during the last quarter. Rothschild Investment LLC raised its position in shares of STMicroelectronics by 248.4% in the 2nd quarter. Rothschild Investment LLC now owns 1,303 shares of the semiconductor producer’s stock worth $40,000 after purchasing an additional 929 shares during the last quarter. AlphaCore Capital LLC bought a new position in STMicroelectronics in the 2nd quarter worth about $57,000. Parkside Financial Bank & Trust grew its position in STMicroelectronics by 114.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,509 shares of the semiconductor producer’s stock valued at $76,000 after purchasing an additional 1,338 shares during the last quarter. Finally, CWM LLC grew its position in STMicroelectronics by 27.5% during the 2nd quarter. CWM LLC now owns 2,680 shares of the semiconductor producer’s stock valued at $82,000 after purchasing an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Up 1.3%

Shares of STM stock opened at $33.64 on Friday. STMicroelectronics N.V. has a 12-month low of $17.25 and a 12-month high of $35.07. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $28.83 and its 200 day moving average is $27.01. The stock has a market capitalization of $30.22 billion, a P/E ratio of 186.92 and a beta of 1.59.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, January 29th. The semiconductor producer reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.29 billion. STMicroelectronics had a net margin of 1.41% and a return on equity of 2.70%. Research analysts expect that STMicroelectronics N.V. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STM. Mizuho set a $28.00 target price on shares of STMicroelectronics in a research note on Friday, January 9th. Robert W. Baird set a $45.00 price objective on STMicroelectronics in a research report on Friday, October 24th. TD Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research note on Friday, October 24th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of STMicroelectronics in a report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.93.

STMicroelectronics Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.