24,780 STMicroelectronics N.V. $STM Shares Bought by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its STMicroelectronics stake by 173% in the second quarter, purchasing 24,780 additional shares for a total of 39,103 shares valued at approximately $2.93 million.
• STMicroelectronics reported quarterly EPS of $0.31, beating estimates by $0.05, while revenue reached $3.49 billion versus the $3.46 billion consensus estimate.
• Analyst sentiment remains positive overall, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $76.17, despite some recent downgrades.

QRG Capital Management Inc. lifted its stake in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 173.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,103 shares of the semiconductor producer's stock after purchasing an additional 24,780 shares during the period. QRG Capital Management Inc.'s holdings in STMicroelectronics were worth $2,928,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of STM. Continuum Advisory LLC bought a new stake in STMicroelectronics in the second quarter valued at about $34,000. Anchor Investment Management LLC acquired a new position in shares of STMicroelectronics during the 2nd quarter worth about $37,000. MCF Advisors LLC acquired a new position in shares of STMicroelectronics during the 2nd quarter worth about $57,000. Portus Wealth Advisors LLC acquired a new position in shares of STMicroelectronics during the 1st quarter worth about $32,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of STMicroelectronics in the 1st quarter valued at about $45,000. Institutional investors own 5.05% of the company's stock.

STMicroelectronics Stock Up 0.7%

STM opened at $51.95 on Friday. STMicroelectronics N.V. has a fifty-two week low of $21.11 and a fifty-two week high of $81.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 2.78. The company has a market capitalization of $46.66 billion, a P/E ratio of 101.87 and a beta of 1.93. The stock has a fifty day moving average of $52.39 and a 200-day moving average of $55.00.

STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The semiconductor producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.46 billion. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. On average, equities analysts expect that STMicroelectronics N.V. will post 1.3 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on STM. Wall Street Zen lowered shares of STMicroelectronics from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. Bank of America upgraded STMicroelectronics from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Wednesday, June 10th. TD Cowen reissued a "hold" rating on shares of STMicroelectronics in a research note on Monday, July 13th. Mizuho lowered their price target on STMicroelectronics from $84.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, July 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of STMicroelectronics in a research report on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.17.

STMicroelectronics Profile

STMicroelectronics N.V. NYSE: STM is a global semiconductor company that designs, develops, manufactures and markets a broad range of integrated circuits and electronic components. Its products are used in automotive systems, industrial equipment, personal electronics, communications infrastructure and other embedded applications.

The company's portfolio includes microcontrollers and microprocessors, analog and mixed-signal devices, power semiconductors, sensors, MEMS devices, connectivity products and automotive semiconductors.

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