Dorsey Wright & Associates lessened its position in STMicroelectronics NV (NYSE:STM) by 33.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 368,659 shares of the semiconductor producer’s stock after selling 181,974 shares during the quarter. STMicroelectronics makes up about 1.2% of Dorsey Wright & Associates’ portfolio, making the stock its 23rd biggest position. Dorsey Wright & Associates’ holdings in STMicroelectronics were worth $6,761,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in STM. Bank of Montreal Can increased its position in shares of STMicroelectronics by 13.5% during the 3rd quarter. Bank of Montreal Can now owns 41,678 shares of the semiconductor producer’s stock worth $764,000 after purchasing an additional 4,957 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of STMicroelectronics during the 3rd quarter worth approximately $746,000. Bank of New York Mellon Corp increased its position in shares of STMicroelectronics by 6,533.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,246,613 shares of the semiconductor producer’s stock worth $27,575,000 after purchasing an additional 1,227,821 shares during the last quarter. Cowen Inc. acquired a new position in shares of STMicroelectronics during the 2nd quarter worth approximately $553,000. Finally, Pittenger & Anderson Inc. increased its position in shares of STMicroelectronics by 52.5% during the 2nd quarter. Pittenger & Anderson Inc. now owns 30,500 shares of the semiconductor producer’s stock worth $675,000 after purchasing an additional 10,500 shares during the last quarter. 4.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:STM traded up $0.11 during trading on Friday, hitting $16.65. 4,206,700 shares of the company were exchanged, compared to its average volume of 3,589,948. The company has a quick ratio of 1.65, a current ratio of 2.36 and a debt-to-equity ratio of 0.28. STMicroelectronics NV has a fifty-two week low of $16.12 and a fifty-two week high of $26.43. The firm has a market capitalization of $16.44 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72.
STMicroelectronics (NYSE:STM) last issued its earnings results on Wednesday, July 25th. The semiconductor producer reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). STMicroelectronics had a return on equity of 20.69% and a net margin of 11.48%. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s revenue was up 18.0% compared to the same quarter last year. As a group, analysts anticipate that STMicroelectronics NV will post 1.38 earnings per share for the current year.
Several research analysts have weighed in on the company. ValuEngine lowered STMicroelectronics from a “sell” rating to a “strong sell” rating in a research report on Monday. Deutsche Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research lowered STMicroelectronics from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Bank of America raised STMicroelectronics from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 13th. Finally, Craig Hallum lowered their price target on STMicroelectronics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $26.15.
STMicroelectronics Company Profile
STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.
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