Raymond James Financial Inc. bought a new position in shares of STMicroelectronics (NYSE:STM - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 69,596 shares of the semiconductor producer's stock, valued at approximately $1,738,000.
Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in STMicroelectronics in the 4th quarter worth $14,397,000. Invesco Ltd. lifted its position in STMicroelectronics by 94.4% during the fourth quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer's stock worth $44,142,000 after acquiring an additional 858,624 shares during the last quarter. Bank of Montreal Can increased its position in STMicroelectronics by 380.1% during the 4th quarter. Bank of Montreal Can now owns 63,874 shares of the semiconductor producer's stock worth $1,595,000 after buying an additional 50,570 shares during the period. Polymer Capital Management US LLC acquired a new stake in STMicroelectronics in the 4th quarter worth about $2,205,000. Finally, Cerity Partners LLC grew its holdings in shares of STMicroelectronics by 6.9% during the 4th quarter. Cerity Partners LLC now owns 28,772 shares of the semiconductor producer's stock worth $771,000 after purchasing an additional 1,851 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.
STMicroelectronics Trading Up 0.1 %
NYSE:STM opened at $22.73 on Friday. The firm's 50 day moving average is $22.71 and its 200 day moving average is $24.57. STMicroelectronics has a 12 month low of $17.25 and a 12 month high of $45.39. The stock has a market capitalization of $20.41 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. 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 (NYSE:STM - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.55 billion. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. Sell-side analysts expect that STMicroelectronics will post 0.85 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Barclays cut STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, January 22nd. Susquehanna reduced their target price on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein lowered STMicroelectronics from an "outperform" rating to a "market perform" rating and cut their target price for the company from $33.00 to $26.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Finally, Dbs Bank lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $30.97.
View Our Latest Stock Analysis on STM
STMicroelectronics Profile
(
Free Report)
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.
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