FORA Capital LLC Purchases Shares of 17,773 STMicroelectronics (NYSE:STM)

FORA Capital LLC acquired a new position in shares of STMicroelectronics (NYSE:STM) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,773 shares of the semiconductor producer’s stock, valued at approximately $528,000.

Several other large investors have also made changes to their positions in STM. Van ECK Associates Corp grew its position in STMicroelectronics by 26.5% during 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 acquiring an additional 1,719,257 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of STMicroelectronics by 177.3% during the 2nd 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. increased its position in STMicroelectronics by 0.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock worth $61,443,000 after purchasing an additional 7,732 shares in the last quarter. Federated Hermes Inc. raised its holdings in STMicroelectronics by 128.1% in the second quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock valued at $25,469,000 after buying an additional 364,184 shares during the period. Finally, American Century Companies Inc. lifted its position in STMicroelectronics by 6.5% during the second quarter. American Century Companies Inc. now owns 469,669 shares of the semiconductor producer’s stock valued at $18,449,000 after buying an additional 28,846 shares in the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on STM. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. Robert W. Baird decreased their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Craig Hallum decreased their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.63.

STMicroelectronics Price Performance

STM opened at $25.41 on Friday. The company has a market capitalization of $22.96 billion, a P/E ratio of 10.46, a PEG ratio of 3.09 and a beta of 1.57. The company has a 50-day moving average of $27.31 and a 200-day moving average of $33.53. 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.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share. Equities analysts expect that STMicroelectronics will post 1.64 EPS for the current fiscal year.

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.