STMicroelectronics (NYSE:STM) Holdings Lowered by Caprock Group LLC

Caprock Group LLC reduced its stake in STMicroelectronics (NYSE:STM) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,877 shares of the semiconductor producer’s stock after selling 555 shares during the period. Caprock Group LLC’s holdings in STMicroelectronics were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in STM. Van ECK Associates Corp lifted its position in STMicroelectronics by 26.5% in the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after purchasing an additional 1,719,257 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after buying an additional 1,478,213 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in STMicroelectronics by 0.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock valued at $61,443,000 after buying an additional 7,732 shares in the last quarter. Federated Hermes Inc. grew its holdings in STMicroelectronics by 128.1% during the second quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock worth $25,469,000 after acquiring an additional 364,184 shares during the period. Finally, American Century Companies Inc. raised its position in STMicroelectronics by 6.5% in the second quarter. American Century Companies Inc. now owns 469,669 shares of the semiconductor producer’s stock worth $18,449,000 after acquiring an additional 28,846 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Stock Down 0.2 %

NYSE:STM opened at $24.48 on Monday. The business’s fifty day moving average price is $27.46 and its 200 day moving average price is $33.80. The firm has a market capitalization of $22.12 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 2.98 and a beta of 1.57. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 1-year low of $23.95 and a 1-year high of $51.27.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The firm’s revenue was down 26.6% compared to the same quarter last year. On average, sell-side analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Craig Hallum decreased their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Susquehanna reaffirmed a “positive” rating and set a $33.00 target price on shares of STMicroelectronics in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Company 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.