STMicroelectronics (NYSE:STM) Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in STMicroelectronics (NYSE:STM) by 0.0% in the third quarter, Holdings Channel reports. The fund owned 1,563,747 shares of the semiconductor producer’s stock after selling 485 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in STMicroelectronics were worth $46,490,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of STM. Van ECK Associates Corp boosted its stake in shares of 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 period. Capital International Investors lifted its holdings 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 buying an additional 74,519 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in STMicroelectronics by 177.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after buying an additional 1,478,213 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of STMicroelectronics by 1,564,831.9% during 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 acquiring an additional 1,079,734 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of STMicroelectronics by 128.1% during the second quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock worth $25,469,000 after acquiring an additional 364,184 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen reduced their price target on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. Craig Hallum dropped their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Susquehanna reissued a “positive” rating and set a $33.00 price objective on shares of STMicroelectronics in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.63.

STMicroelectronics Trading Up 0.2 %

STMicroelectronics stock opened at $24.54 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. STMicroelectronics has a 1 year low of $23.95 and a 1 year high of $51.27. The firm’s 50-day moving average is $27.54 and its 200-day moving average is $34.00. The company has a market cap of $22.17 billion, a P/E ratio of 10.10, a PEG ratio of 2.98 and a beta of 1.57.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. 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 posted $1.16 earnings per share. On average, equities analysts expect that STMicroelectronics will post 1.64 earnings per share for the current year.

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.