Hsbc Holdings PLC Buys 16,098 Shares of STMicroelectronics (NYSE:STM)

Hsbc Holdings PLC raised its stake in STMicroelectronics (NYSE:STM - Free Report) by 59.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,291 shares of the semiconductor producer's stock after buying an additional 16,098 shares during the period. Hsbc Holdings PLC's holdings in STMicroelectronics were worth $1,083,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of STM. Wilmington Savings Fund Society FSB purchased a new stake in shares of STMicroelectronics during the third quarter valued at $186,000. GAMMA Investing LLC raised its holdings in STMicroelectronics by 81.4% during the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer's stock worth $30,000 after buying an additional 531 shares during the period. Diversified Trust Co purchased a new stake in STMicroelectronics during the fourth quarter valued at about $583,000. Grandview Asset Management LLC acquired a new position in shares of STMicroelectronics in the fourth quarter worth about $696,000. Finally, J2 Capital Management Inc purchased a new position in shares of STMicroelectronics in the fourth quarter worth approximately $295,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on STM shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a research note on Friday, April 25th. Susquehanna dropped their price target on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a research report on Friday, January 31st. TD Cowen raised their price objective on STMicroelectronics from $18.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, April 25th. Bank of America cut STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Finally, Sanford C. Bernstein cut shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, STMicroelectronics presently has a consensus rating of "Hold" and a consensus price target of $30.97.

STMicroelectronics Stock Up 2.6 %

Shares of STM stock traded up $0.58 on Wednesday, hitting $23.13. The company's stock had a trading volume of 4,650,926 shares, compared to its average volume of 5,558,353. The stock has a market capitalization of $20.77 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.16 and a beta of 1.53. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39. The firm's fifty day moving average price is $22.54 and its 200-day moving average price is $24.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. Research analysts anticipate 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.