Creative Planning trimmed its holdings in STMicroelectronics NV (NYSE:STM) by 12.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,873 shares of the semiconductor producer’s stock after selling 2,249 shares during the period. Creative Planning’s holdings in STMicroelectronics were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC raised its position in shares of STMicroelectronics by 3.9% in the second quarter. SG Americas Securities LLC now owns 74,798 shares of the semiconductor producer’s stock valued at $2,050,000 after buying an additional 2,812 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of STMicroelectronics in the second quarter valued at about $38,000. Ellis Investment Partners LLC raised its position in shares of STMicroelectronics by 2,095.1% in the second quarter. Ellis Investment Partners LLC now owns 4,500 shares of the semiconductor producer’s stock valued at $119,000 after buying an additional 4,295 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in STMicroelectronics during the second quarter worth about $31,000. Finally, State Street Corp increased its position in STMicroelectronics by 327.8% during the first quarter. State Street Corp now owns 254,499 shares of the semiconductor producer’s stock worth $5,439,000 after purchasing an additional 195,012 shares during the last quarter. Institutional investors and hedge funds own 3.71% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Deutsche Bank restated a “buy” rating on shares of STMicroelectronics in a research report on Friday, July 24th. Barclays reiterated an “overweight” rating on shares of STMicroelectronics in a research note on Thursday, April 23rd. Bryan, Garnier & Co raised shares of STMicroelectronics from a “neutral” rating to a “buy” rating in a report on Monday, June 29th. Morgan Stanley reissued an “overweight” rating on shares of STMicroelectronics in a report on Tuesday, July 28th. Finally, Citigroup cut shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Monday, May 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $32.49.
STM stock opened at $27.94 on Friday. The company’s 50 day moving average is $27.92 and its two-hundred day moving average is $26.05. The stock has a market cap of $25.78 billion, a P/E ratio of 25.87, a PEG ratio of 6.70 and a beta of 1.46. STMicroelectronics NV has a twelve month low of $14.67 and a twelve month high of $31.98. The company has a current ratio of 2.09, a quick ratio of 1.43 and a debt-to-equity ratio of 0.16.
STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, July 23rd. The semiconductor producer reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $1.99 billion. STMicroelectronics had a net margin of 10.14% and a return on equity of 13.98%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. On average, equities research analysts predict that STMicroelectronics NV will post 0.85 earnings per share for the current year.
STMicroelectronics Company Profile
STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.
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