Diversify Advisory Services LLC Acquires New Shares in STMicroelectronics N.V. $STM

Key Points

• Diversify Advisory Services LLC acquired 24,303 STMicroelectronics shares in the third quarter, valued at approximately $1.3 million. Several other institutional investors also initiated positions, while institutions and hedge funds collectively own 5.05% of the stock.
• STMicroelectronics reported quarterly earnings of $0.31 per share, beating estimates of $0.26, and posted revenue of $3.49 billion versus expectations of $3.46 billion.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and an average price target of $76.17, despite shares trading at $43.99 and well below their 52-week high.

Diversify Advisory Services LLC bought a new position in STMicroelectronics N.V. (NYSE:STM - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,303 shares of the semiconductor producer's stock, valued at approximately $1,297,000.

A number of other hedge funds have also modified their holdings of STM. Situational Awareness LP acquired a new stake in STMicroelectronics in the 2nd quarter valued at $584,344,000. Annex Advisory Services LLC acquired a new position in STMicroelectronics during the third quarter worth $38,877,000. The Manufacturers Life Insurance Company acquired a new position in STMicroelectronics during the first quarter worth $19,132,000. Generate Investment Management Ltd bought a new position in shares of STMicroelectronics during the third quarter valued at $15,857,000. Finally, Beaconlight Capital LLC bought a new position in shares of STMicroelectronics during the first quarter valued at $13,284,000. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

STMicroelectronics stock opened at $43.99 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. The firm has a market cap of $39.51 billion, a P/E ratio of 86.26 and a beta of 1.96. The business's fifty day moving average is $50.74 and its two-hundred day moving average is $57.45. STMicroelectronics N.V. has a 52 week low of $21.11 and a 52 week high of $81.42.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its earnings results on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.46 billion. Equities research analysts forecast that STMicroelectronics N.V. will post 1.30 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STM. Susquehanna boosted their target price on shares of STMicroelectronics from $60.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 21st. Mizuho dropped their target price on shares of STMicroelectronics from $84.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. Barclays set a $60.00 price target on shares of STMicroelectronics in a report on Friday, July 24th. Zacks Research lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 3rd. Finally, Craig Hallum restated a "buy" rating and issued a $70.00 price target on shares of STMicroelectronics in a research report on Thursday, July 23rd. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $76.17.

STMicroelectronics Company Profile

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

The company's product portfolio includes microcontrollers, analog and power semiconductors, sensors, microelectromechanical systems (MEMS), connectivity products and automotive chips.

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