US Bancorp DE Purchases 24,096 Shares of STMicroelectronics (NYSE:STM)

US Bancorp DE raised its holdings in shares of STMicroelectronics (NYSE:STM) by 54.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,969 shares of the semiconductor producer’s stock after purchasing an additional 24,096 shares during the period. US Bancorp DE’s holdings in STMicroelectronics were worth $1,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Truvestments Capital LLC acquired a new position in STMicroelectronics in the third quarter valued at approximately $25,000. Archer Investment Corp bought a new stake in shares of STMicroelectronics during the 3rd quarter valued at $30,000. GAMMA Investing LLC lifted its stake in shares of STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after purchasing an additional 531 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of STMicroelectronics in the 4th quarter worth $31,000. Finally, TD Private Client Wealth LLC grew its stake in shares of STMicroelectronics by 108.3% during the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares during the period. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $26.46 on Friday. The company has a fifty day moving average price of $24.73 and a 200 day moving average price of $26.60. The firm has a market cap of $23.90 billion, a PE ratio of 15.94, a PEG ratio of 1.16 and a beta of 1.56. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 1-year low of $21.36 and a 1-year high of $48.75.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Research analysts predict that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STM. Jefferies Financial Group raised STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Barclays downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Susquehanna decreased their price objective on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. Finally, BNP Paribas started coverage on shares of STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.26.

About STMicroelectronics

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.