Highland Capital Management LLC Has $2.55 Million Position in STMicroelectronics (NYSE:STM)

Highland Capital Management LLC trimmed its position in STMicroelectronics (NYSE:STM) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,952 shares of the semiconductor producer’s stock after selling 5,200 shares during the period. Highland Capital Management LLC’s holdings in STMicroelectronics were worth $2,551,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp raised its holdings in STMicroelectronics by 55.3% in the first quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock worth $250,831,000 after purchasing an additional 2,065,387 shares during the period. Lazard Asset Management LLC raised its stake in STMicroelectronics by 1,564,831.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after buying an additional 1,079,734 shares during the period. Quadrature Capital Ltd lifted its holdings in STMicroelectronics by 337.8% during the fourth quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock worth $25,561,000 after acquiring an additional 394,147 shares in the last quarter. Grand Alliance Asset Management Ltd acquired a new position in STMicroelectronics in the fourth quarter valued at about $14,036,000. Finally, Delta Global Management LP increased its holdings in shares of STMicroelectronics by 31.3% in the first quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer’s stock worth $45,300,000 after acquiring an additional 249,905 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STM. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Craig Hallum cut their price target on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $35.50 to $45.80 in a research report on Tuesday, June 18th. TD Cowen cut their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.13.

STMicroelectronics Stock Down 0.8 %

STMicroelectronics stock opened at $31.37 on Monday. The company has a fifty day simple moving average of $36.68 and a 200 day simple moving average of $40.87. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. STMicroelectronics has a 1-year low of $28.19 and a 1-year high of $51.27. The company has a market cap of $28.34 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 3.69 and a beta of 1.59.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. STMicroelectronics’s revenue for the quarter was down 25.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. Research analysts anticipate that STMicroelectronics will post 1.66 earnings per share for the current fiscal year.

STMicroelectronics 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.