Citigroup Inc. Purchases 2,682 Shares of STMicroelectronics (NYSE:STM)

Citigroup Inc. boosted its position in shares of STMicroelectronics (NYSE:STM) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,540,426 shares of the semiconductor producer’s stock after acquiring an additional 2,682 shares during the period. Citigroup Inc. owned 0.17% of STMicroelectronics worth $45,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STM. Archer Investment Corp bought a new stake in STMicroelectronics during the 3rd quarter worth approximately $30,000. Waldron Private Wealth LLC bought a new stake in STMicroelectronics during the 3rd quarter worth approximately $34,000. Whittier Trust Co. of Nevada Inc. raised its stake in STMicroelectronics by 144.2% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after acquiring an additional 734 shares during the period. Ridgewood Investments LLC bought a new stake in STMicroelectronics during the 2nd quarter worth approximately $51,000. Finally, Tompkins Financial Corp bought a new stake in STMicroelectronics during the 3rd quarter worth approximately $59,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Down 0.2 %

NYSE STM opened at $24.48 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $27.46 and a two-hundred day moving average of $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. STMicroelectronics has a 52 week low of $23.95 and a 52 week 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, topping the consensus estimate of $0.33 by $0.04. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. STMicroelectronics’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. On average, analysts predict that STMicroelectronics will post 1.64 earnings per share for the current year.

Analysts Set New Price Targets

STM has been the topic of several recent analyst reports. Sanford C. Bernstein reduced their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Susquehanna reiterated a “positive” rating and set a $33.00 price objective on shares of STMicroelectronics in a research report on Thursday. Morgan Stanley cut shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Finally, Robert W. Baird cut their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. One equities research 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. Based on data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and an average target price 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.