Empowered Funds LLC Has $608,000 Stake in STMicroelectronics (NYSE:STM)

Empowered Funds LLC increased its position in shares of STMicroelectronics (NYSE:STM) by 15.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,465 shares of the semiconductor producer’s stock after purchasing an additional 2,799 shares during the period. Empowered Funds LLC’s holdings in STMicroelectronics were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in STM. Waldron Private Wealth LLC bought a new stake in STMicroelectronics in the 3rd quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of STMicroelectronics by 144.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after buying an additional 734 shares during the period. Ridgewood Investments LLC acquired a new stake in STMicroelectronics during the second quarter worth approximately $51,000. Tompkins Financial Corp bought a new position in STMicroelectronics during the 3rd quarter worth $59,000. Finally, Covestor Ltd acquired a new position in STMicroelectronics in the 3rd quarter valued at $62,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Craig Hallum decreased their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Sanford C. Bernstein decreased their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Susquehanna reissued a “positive” rating and issued a $33.00 price objective on shares of STMicroelectronics in a research note on Thursday. Finally, Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, STMicroelectronics has a consensus rating of “Moderate Buy” and a consensus target price of $37.63.

STMicroelectronics Trading Down 0.2 %

Shares of STM stock opened at $24.48 on Friday. The stock has a 50-day moving average of $27.46 and a 200-day moving average of $33.84. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The stock has a market cap of $22.12 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 2.98 and a beta of 1.57. 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 data on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating 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 company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm posted $1.16 EPS. The company’s quarterly revenue was down 26.6% on a year-over-year basis. On average, equities research analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current year.

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.