STMicroelectronics N.V. $STM Holdings Lowered by Park Avenue Securities LLC

Park Avenue Securities LLC cut its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 77.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,897 shares of the semiconductor producer’s stock after selling 13,771 shares during the period. Park Avenue Securities LLC’s holdings in STMicroelectronics were worth $208,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC acquired a new position in shares of STMicroelectronics in the 3rd quarter valued at $311,000. Evergreen Capital Management LLC increased its position in shares of STMicroelectronics by 1.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 59,718 shares of the semiconductor producer’s stock valued at $3,187,000 after buying an additional 1,124 shares in the last quarter. Vest Financial LLC raised its stake in STMicroelectronics by 163.0% during the 3rd quarter. Vest Financial LLC now owns 12,959 shares of the semiconductor producer’s stock worth $691,000 after buying an additional 8,032 shares during the period. Eagle Rock Investment Company LLC raised its stake in STMicroelectronics by 2.8% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 8,147 shares of the semiconductor producer’s stock worth $435,000 after buying an additional 220 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in STMicroelectronics by 34.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 9,425 shares of the semiconductor producer’s stock worth $503,000 after buying an additional 2,390 shares during the period. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Up 6.7%

STM stock opened at $44.49 on Tuesday. The company has a quick ratio of 2.30, a current ratio of 3.13 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $49.65 and a two-hundred day moving average price of $50.34. The company has a market cap of $39.96 billion, a price-to-earnings ratio of 79.46 and a beta of 2.00. STMicroelectronics N.V. has a twelve month low of $21.11 and a twelve month high of $81.42.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, October 29th. The semiconductor producer reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). STMicroelectronics had a net margin of 3.80% and a return on equity of 4.71%. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.72 billion. Analysts anticipate that STMicroelectronics N.V. will post 1.25 EPS for the current fiscal year.

Analyst Ratings Changes

STM has been the subject of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of STMicroelectronics in a research note on Wednesday, September 2nd. Banca Akros raised STMicroelectronics to a “buy” rating in a research report on Friday, July 24th. Barclays set a $60.00 price objective on STMicroelectronics in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a research note on Friday, October 30th. Finally, Craig Hallum restated a “buy” rating and set a $70.00 target price on shares of STMicroelectronics in a report on Thursday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, STMicroelectronics presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.06.

STMicroelectronics Profile

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.