Investors Research Corp Acquires 16,375 Shares of STMicroelectronics (NYSE:STM)

Investors Research Corp boosted its position in STMicroelectronics (NYSE:STM) by 376.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 20,725 shares of the semiconductor producer’s stock after purchasing an additional 16,375 shares during the period. Investors Research Corp’s holdings in STMicroelectronics were worth $616,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in STM. Archer Investment Corp bought a new position in STMicroelectronics in the 3rd quarter valued at $30,000. Waldron Private Wealth LLC bought a new position in shares of STMicroelectronics during the third quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. grew its position 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 valued at $49,000 after purchasing an additional 734 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of STMicroelectronics during the second quarter valued at $51,000. Finally, Denver PWM LLC bought a new position in shares of STMicroelectronics during the 2nd quarter valued at $72,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Stock Down 1.5 %

STM stock traded down $0.36 during mid-day trading on Thursday, hitting $24.14. 611,552 shares of the company were exchanged, compared to its average volume of 3,996,149. STMicroelectronics has a twelve month low of $23.99 and a twelve month high of $51.27. 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 company has a market capitalization of $21.81 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 2.98 and a beta of 1.57. The firm has a fifty day simple moving average of $27.61 and a 200 day simple moving average of $34.06.

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

Analyst Ratings Changes

STM has been the subject of several recent analyst reports. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Robert W. Baird dropped their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Craig Hallum cut their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Susquehanna reaffirmed a “positive” rating and issued a $33.00 price target on shares of STMicroelectronics in a research report on Thursday. Finally, Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.63.

STMicroelectronics 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.