BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Stock Holdings in STMicroelectronics (NYSE:STM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in shares of STMicroelectronics (NYSE:STM) by 0.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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. owned about 0.17% of STMicroelectronics worth $46,490,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of STM. Van ECK Associates Corp raised its position in STMicroelectronics by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after buying an additional 1,719,257 shares during the last quarter. Capital International Investors raised its holdings in STMicroelectronics by 2.4% during the first 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 raised its holdings in STMicroelectronics by 177.3% during 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 in the last quarter. Lazard Asset Management LLC lifted its position 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 purchasing an additional 1,079,734 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in STMicroelectronics by 128.1% in the 2nd quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock valued at $25,469,000 after purchasing an additional 364,184 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $24.54 on Friday. 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 $22.17 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 2.98 and a beta of 1.57. The company’s 50-day moving average price is $27.54 and its 200 day moving average price is $34.00. STMicroelectronics has a 52 week low of $23.95 and a 52 week high of $51.27.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business 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 business earned $1.16 earnings per share. The company’s quarterly revenue was down 26.6% on a year-over-year basis. As a group, research analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Craig Hallum reduced their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Robert W. Baird cut their price target 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. Finally, Sanford C. Bernstein decreased their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.