Envestnet Asset Management Inc. Sells 25,202 Shares of STMicroelectronics N.V. $STM

Envestnet Asset Management Inc. reduced its holdings in shares of STMicroelectronics N.V. (NYSE:STM) by 9.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,564 shares of the semiconductor producer’s stock after selling 25,202 shares during the period. Envestnet Asset Management Inc.’s holdings in STMicroelectronics were worth $7,166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Peterson Wealth Services grew its position in shares of STMicroelectronics by 3,086.5% during the 3rd quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock valued at $33,000 after acquiring an additional 1,142 shares during the period. Rothschild Investment LLC raised its holdings in STMicroelectronics by 248.4% in the 2nd quarter. Rothschild Investment LLC now owns 1,303 shares of the semiconductor producer’s stock worth $40,000 after purchasing an additional 929 shares during the period. AlphaCore Capital LLC purchased a new position in STMicroelectronics during the second quarter valued at $57,000. Parkside Financial Bank & Trust grew its holdings in STMicroelectronics by 114.3% during the second quarter. Parkside Financial Bank & Trust now owns 2,509 shares of the semiconductor producer’s stock valued at $76,000 after purchasing an additional 1,338 shares during the period. Finally, CWM LLC increased its position in STMicroelectronics by 27.5% in the second quarter. CWM LLC now owns 2,680 shares of the semiconductor producer’s stock worth $82,000 after buying an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Up 1.3%

STMicroelectronics stock opened at $33.64 on Friday. STMicroelectronics N.V. has a 1 year low of $17.25 and a 1 year high of $35.07. The firm’s 50 day moving average price is $28.83 and its 200-day moving average price is $27.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.36 and a quick ratio of 2.43. The stock has a market cap of $30.22 billion, a P/E ratio of 186.92 and a beta of 1.59.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 29th. The semiconductor producer reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.29 billion. STMicroelectronics had a return on equity of 2.70% and a net margin of 1.41%. On average, equities analysts predict that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of STMicroelectronics in a research report on Wednesday, January 21st. Mizuho set a $28.00 price target on shares of STMicroelectronics in a report on Friday, January 9th. TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a research note on Friday, October 24th. Finally, Robert W. Baird set a $45.00 target price on shares of STMicroelectronics in a research note on Friday, October 24th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.93.

STMicroelectronics Company Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.