Raymond James Financial Inc. Buys Shares of 69,596 STMicroelectronics (NYSE:STM)

Raymond James Financial Inc. purchased a new position in shares of STMicroelectronics (NYSE:STM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,596 shares of the semiconductor producer's stock, valued at approximately $1,738,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Clear Creek Financial Management LLC purchased a new position in STMicroelectronics during the fourth quarter worth approximately $468,000. Callan Family Office LLC acquired a new stake in shares of STMicroelectronics during the fourth quarter worth about $486,000. Schechter Investment Advisors LLC acquired a new position in shares of STMicroelectronics in the fourth quarter worth $758,000. Diversified Trust Co purchased a new stake in STMicroelectronics during the 4th quarter worth about $583,000. Finally, J2 Capital Management Inc acquired a new stake in STMicroelectronics in the fourth quarter valued at approximately $295,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Jefferies Financial Group raised STMicroelectronics from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Susquehanna lowered their price objective on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of STMicroelectronics in a report on Friday, April 25th. Sanford C. Bernstein cut STMicroelectronics from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. Finally, TD Cowen increased their price objective on shares of STMicroelectronics from $18.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $30.97.

STMicroelectronics Stock Performance

STM traded up $0.58 during trading on Wednesday, hitting $23.13. The stock had a trading volume of 4,650,926 shares, compared to its average volume of 5,567,715. The company has a 50 day simple moving average of $22.51 and a 200-day simple moving average of $24.45. The firm has a market cap of $20.77 billion, a PE ratio of 13.93, a P/E/G ratio of 1.16 and a beta of 1.53. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 12 month low of $17.25 and a 12 month high of $45.39.

STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. Analysts expect that STMicroelectronics will post 0.85 EPS for the current year.

STMicroelectronics Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.