STMicroelectronics (NYSE:STM) Position Reduced by Financial Counselors Inc.

Financial Counselors Inc. trimmed its stake in STMicroelectronics (NYSE:STMFree Report) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,606 shares of the semiconductor producer’s stock after selling 702 shares during the quarter. Financial Counselors Inc.’s holdings in STMicroelectronics were worth $2,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of STMicroelectronics by 16.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock worth $38,572,000 after purchasing an additional 109,477 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after buying an additional 120,399 shares during the last quarter. Paradigm Asset Management Co. LLC acquired a new position in STMicroelectronics in the fourth quarter worth approximately $980,000. Rafferty Asset Management LLC increased its holdings in STMicroelectronics by 8.7% in the fourth quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock worth $80,991,000 after buying an additional 129,772 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in STMicroelectronics by 11.2% in the fourth quarter. Blue Trust Inc. now owns 2,701 shares of the semiconductor producer’s stock worth $135,000 after buying an additional 272 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Stock Down 2.1 %

Shares of NYSE STM opened at $41.52 on Wednesday. STMicroelectronics has a 52-week low of $37.21 and a 52-week high of $55.85. The stock has a market cap of $37.51 billion, a PE ratio of 10.64, a PEG ratio of 3.98 and a beta of 1.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.58 and a current ratio of 3.34. The business has a fifty day moving average of $41.62 and a two-hundred day moving average of $43.50.

STMicroelectronics (NYSE:STMGet Free Report) last announced its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the business posted $1.10 earnings per share. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. As a group, equities research analysts expect that STMicroelectronics will post 2.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on STM. Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and increased their price objective for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. StockNews.com raised STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Susquehanna reissued a “positive” rating and issued a $55.00 price objective on shares of STMicroelectronics in a research report on Monday, April 8th. Finally, William Blair reaffirmed a “market perform” rating on shares of STMicroelectronics in a research report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.76.

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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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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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