Kestra Advisory Services LLC Buys 162,176 Shares of STMicroelectronics N.V. $STM

Kestra Advisory Services LLC raised its holdings in shares of STMicroelectronics N.V. (NYSE:STM) by 683.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,911 shares of the semiconductor producer’s stock after acquiring an additional 162,176 shares during the period. Kestra Advisory Services LLC’s holdings in STMicroelectronics were worth $9,920,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Situational Awareness LP purchased a new position in STMicroelectronics in the 2nd quarter worth approximately $584,344,000. Militia Capital Management LLC purchased a new stake in shares of STMicroelectronics during the first quarter valued at approximately $3,455,000. Engineers Gate Manager LP purchased a new stake in shares of STMicroelectronics during the second quarter valued at approximately $7,407,000. Generate Investment Management Ltd purchased a new stake in shares of STMicroelectronics during the third quarter valued at approximately $15,857,000. Finally, QRG Capital Management Inc. grew its holdings in shares of STMicroelectronics by 173.0% in the second quarter. QRG Capital Management Inc. now owns 39,103 shares of the semiconductor producer’s stock worth $2,928,000 after purchasing an additional 24,780 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STM has been the subject of a number of research analyst reports. Mizuho set a $70.00 price target on STMicroelectronics in a research note on Thursday, October 29th. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a report on Wednesday, October 21st. Morningstar raised shares of STMicroelectronics to a “buy” rating in a research report on Tuesday, July 28th. UBS Group reaffirmed a “buy” rating on shares of STMicroelectronics in a research note on Friday, October 30th. Finally, The Goldman Sachs Group reduced their target price on STMicroelectronics from $67.50 to $60.50 and set a “neutral” rating on the stock in a report on Monday, July 27th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.06.

STMicroelectronics Stock Up 6.7%

STM opened at $44.49 on Tuesday. The stock has a market cap of $39.96 billion, a price-to-earnings ratio of 79.46 and a beta of 2.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.30 and a current ratio of 3.13. The firm’s fifty day moving average is $49.65 and its 200 day moving average is $50.34. STMicroelectronics N.V. has a fifty-two week low of $21.11 and a fifty-two week high of $81.42.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, October 29th. The semiconductor producer reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). STMicroelectronics had a return on equity of 4.71% and a net margin of 3.80%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.72 billion. On average, sell-side analysts forecast that STMicroelectronics N.V. will post 1.25 earnings per share for the current fiscal year.

About STMicroelectronics

STMicroelectronics is a global semiconductor company that designs, develops and manufactures chips and related products for customers in a range of industries. Its portfolio includes microcontrollers, analog and mixed-signal integrated circuits, power semiconductors, sensors, and microelectromechanical systems (MEMS).

The company’s products are used in automotive systems, industrial equipment, communications devices, computers and consumer electronics. Its offerings support applications such as vehicle control and safety, factory automation, power management, and motion and environmental sensing.

STMicroelectronics was formed in 1987 through the merger of Italy’s SGS Microelettronica and France’s Thomson Semiconducteurs.