STMicroelectronics (NYSE:STM) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in STMicroelectronics (NYSE:STM - Free Report) by 59.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Clear Creek Financial Management LLC bought a new stake in STMicroelectronics in the fourth quarter worth approximately $468,000. Callan Family Office LLC bought a new position in shares of STMicroelectronics during the fourth quarter valued at about $486,000. Raymond James Financial Inc. purchased a new position in STMicroelectronics in the fourth quarter worth $1,738,000. Schechter Investment Advisors LLC purchased a new stake in STMicroelectronics during the fourth quarter worth about $758,000. Finally, Diversified Trust Co bought a new stake in shares of STMicroelectronics in the fourth quarter valued at $583,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Analyst Upgrades and Downgrades

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

STMicroelectronics Stock Performance

STMicroelectronics stock traded up $0.68 during trading hours on Friday, hitting $23.84. 3,679,909 shares of the stock traded hands, compared to its average volume of 5,570,390. The firm's 50 day moving average price is $22.49 and its 200-day moving average price is $24.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. The stock has a market capitalization of $21.41 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.16 and a beta of 1.53. STMicroelectronics has a 1 year low of $17.25 and a 1 year high of $45.39.

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 (EPS) for the quarter, beating the consensus estimate 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 return on equity of 8.92% and a net margin of 11.74%. As a group, equities analysts expect that STMicroelectronics will post 0.85 EPS for the current fiscal 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.