Cetera Investment Advisers Has $2.50 Million Stake in STMicroelectronics N.V. $STM

Key Points

• Cetera Investment Advisers nearly doubled its STMicroelectronics stake in the first quarter, purchasing 35,829 additional shares and bringing its holdings to 72,354 shares valued at approximately $2.5 million.
• STMicroelectronics beat quarterly expectations, reporting $0.31 earnings per share versus the $0.26 consensus and revenue of $3.49 billion against estimates of $3.46 billion.
• Analyst sentiment remains positive but mixed: the stock has a “Moderate Buy” consensus rating from MarketBeat, with an average price target of $71.65 compared with its reported $56.10 share price.

Cetera Investment Advisers lifted its position in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 98.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,354 shares of the semiconductor producer's stock after purchasing an additional 35,829 shares during the period. Cetera Investment Advisers' holdings in STMicroelectronics were worth $2,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Portus Wealth Advisors LLC acquired a new position in STMicroelectronics in the 1st quarter valued at $32,000. CIBC Private Wealth Group LLC lifted its holdings in shares of STMicroelectronics by 3,746.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer's stock worth $26,000 after buying an additional 974 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of STMicroelectronics during the third quarter worth $52,000. Brown Brothers Harriman & Co. lifted its holdings in shares of STMicroelectronics by 350.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,680 shares of the semiconductor producer's stock worth $70,000 after buying an additional 2,085 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of STMicroelectronics in the fourth quarter valued at about $74,000. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Stock Up 5.3%

Shares of NYSE STM opened at $56.10 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 2.78. STMicroelectronics N.V. has a 52 week low of $21.11 and a 52 week high of $81.42. The stock has a market capitalization of $50.38 billion, a P/E ratio of 109.99 and a beta of 1.95. The stock's fifty day moving average is $67.36 and its 200 day moving average is $50.14.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. The business had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.46 billion. Sell-side analysts forecast that STMicroelectronics N.V. will post 1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of STMicroelectronics from $67.50 to $60.50 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Mizuho dropped their price objective on shares of STMicroelectronics from $84.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. UBS Group set a $100.00 price objective on shares of STMicroelectronics in a report on Wednesday, June 10th. Zacks Research lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 3rd. Finally, Susquehanna raised their target price on shares of STMicroelectronics from $60.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, July 21st. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $71.65.

STMicroelectronics Company 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.

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