Investors Research Corp Has $616,000 Holdings in STMicroelectronics (NYSE:STM)

Investors Research Corp grew its position in STMicroelectronics (NYSE:STM) by 376.4% during the 3rd quarter, Holdings Channel reports. The firm owned 20,725 shares of the semiconductor producer’s stock after purchasing an additional 16,375 shares during the quarter. Investors Research Corp’s holdings in STMicroelectronics were worth $616,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Van ECK Associates Corp increased its holdings in STMicroelectronics by 26.5% in the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after purchasing an additional 1,719,257 shares during the last quarter. Capital International Investors raised its stake in STMicroelectronics by 2.4% in the 1st quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock worth $135,467,000 after purchasing an additional 74,519 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after purchasing an additional 1,478,213 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in STMicroelectronics by 0.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock valued at $61,443,000 after purchasing an additional 7,732 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in STMicroelectronics by 1,564,831.9% in the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock valued at $46,690,000 after buying an additional 1,079,734 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Trading Down 1.5 %

STM stock traded down $0.36 during midday trading on Thursday, hitting $24.14. 611,552 shares of the company’s stock were exchanged, compared to its average volume of 3,996,149. STMicroelectronics has a 1-year low of $23.99 and a 1-year high of $51.27. The business has a 50-day simple moving average of $27.61 and a two-hundred day simple moving average of $34.06. The stock has a market capitalization of $21.81 billion, a PE ratio of 10.08, a P/E/G ratio of 2.98 and a beta of 1.57. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $3.25 billion for 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%. The firm’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. On average, sell-side analysts predict that STMicroelectronics will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on STM shares. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein decreased their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Craig Hallum cut their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. TD Cowen dropped their price target on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Finally, StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, STMicroelectronics has an average rating of “Moderate Buy” and a consensus target price of $37.63.

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.