IFP Advisors Inc decreased its position in shares of STMicroelectronics NV (NYSE:STM) by 41.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,347 shares of the semiconductor producer’s stock after selling 8,564 shares during the period. IFP Advisors Inc’s holdings in STMicroelectronics were worth $226,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lido Advisors LLC increased its holdings in shares of STMicroelectronics by 29.7% during the second quarter. Lido Advisors LLC now owns 12,386 shares of the semiconductor producer’s stock valued at $273,000 after acquiring an additional 2,833 shares in the last quarter. Atria Investments LLC increased its holdings in shares of STMicroelectronics by 26.4% during the second quarter. Atria Investments LLC now owns 18,108 shares of the semiconductor producer’s stock valued at $401,000 after acquiring an additional 3,780 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of STMicroelectronics by 13.5% during the third quarter. Bank of Montreal Can now owns 41,678 shares of the semiconductor producer’s stock valued at $764,000 after acquiring an additional 4,957 shares in the last quarter. Centaurus Financial Inc. bought a new stake in shares of STMicroelectronics during the second quarter valued at approximately $125,000. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of STMicroelectronics during the second quarter valued at approximately $343,000. Hedge funds and other institutional investors own 4.13% of the company’s stock.
Several brokerages recently issued reports on STM. Craig Hallum decreased their price target on STMicroelectronics from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Zacks Investment Research downgraded STMicroelectronics from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. ValuEngine downgraded STMicroelectronics from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Deutsche Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. Finally, Bank of America upgraded STMicroelectronics from an “underperform” rating to a “neutral” rating in a report on Thursday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. STMicroelectronics currently has a consensus rating of “Hold” and a consensus target price of $23.48.
Shares of NYSE:STM opened at $14.89 on Friday. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08. The company has a quick ratio of 1.81, a current ratio of 2.54 and a debt-to-equity ratio of 0.27. STMicroelectronics NV has a 1 year low of $13.56 and a 1 year high of $26.43.
STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Wednesday, October 24th. The semiconductor producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. STMicroelectronics had a return on equity of 21.97% and a net margin of 12.41%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. On average, equities analysts forecast that STMicroelectronics NV will post 1.39 EPS for the current fiscal year.
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STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.
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