STMicroelectronics N.V. $STM Holdings Decreased by Modera Wealth Management LLC

Key Points

• Modera Wealth Management cut its STMicroelectronics stake by 90.9% in the third quarter, selling 124,351 shares and retaining 12,487 shares valued at approximately $666,000. Institutional investors collectively own 5.05% of the company.
• Analyst sentiment remains favorable but mixed, with seven Buy ratings and five Holds. STMicroelectronics has a consensus “Moderate Buy” rating and an average price target of $75.06.
• STMicroelectronics shares opened at $47.01, while the company’s latest quarterly results showed revenue of $3.76 billion but adjusted EPS of $0.37, below the $0.40 analyst consensus.

Modera Wealth Management LLC decreased its stake in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 90.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,487 shares of the semiconductor producer's stock after selling 124,351 shares during the period. Modera Wealth Management LLC's holdings in STMicroelectronics were worth $666,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in STM. Continuum Advisory LLC purchased a new position in STMicroelectronics during the 2nd quarter valued at about $34,000. Anchor Investment Management LLC bought a new position in shares of STMicroelectronics in the second quarter valued at approximately $37,000. MCF Advisors LLC bought a new position in shares of STMicroelectronics in the second quarter valued at approximately $57,000. Public Employees Retirement System of Ohio purchased a new position in STMicroelectronics during the first quarter valued at approximately $45,000. Finally, IFP Advisors Inc grew its stake in STMicroelectronics by 126.1% during the second quarter. IFP Advisors Inc now owns 2,569 shares of the semiconductor producer's stock valued at $192,000 after acquiring an additional 1,433 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on STM shares. Mizuho set a $70.00 target price on shares of STMicroelectronics in a research note on Thursday. The Goldman Sachs Group reduced their price target on shares of STMicroelectronics from $67.50 to $60.50 and set a "neutral" rating for the company in a research report on Monday, July 27th. Bank of America reiterated a "buy" rating on shares of STMicroelectronics in a research report on Friday. Susquehanna boosted their target price on STMicroelectronics from $60.00 to $75.00 and gave the stock a "positive" rating in a research report on Tuesday, July 21st. Finally, TD Cowen decreased their target price on STMicroelectronics from $55.00 to $50.00 and set a "hold" rating on the stock in a research note on Monday, October 19th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

STMicroelectronics Trading Up 0.6%

Shares of STMicroelectronics stock opened at $47.01 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.78 and a quick ratio of 2.08. STMicroelectronics N.V. has a 1 year low of $21.11 and a 1 year high of $81.42. The firm has a market cap of $42.23 billion, a PE ratio of 83.95 and a beta of 1.96. The company has a 50 day simple moving average of $50.24 and a two-hundred day simple moving average of $49.93.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The semiconductor producer reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.72 billion. Analysts expect that STMicroelectronics N.V. will post 1.26 earnings per share for the current fiscal year.

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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