Moran Wealth Management LLC Acquires 634 Shares of STMicroelectronics (NYSE:STM)

Moran Wealth Management LLC grew its holdings in shares of STMicroelectronics (NYSE:STM) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,573 shares of the semiconductor producer’s stock after purchasing an additional 634 shares during the quarter. Moran Wealth Management LLC’s holdings in STMicroelectronics were worth $2,039,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Archer Investment Corp purchased a new stake in STMicroelectronics during the third quarter worth about $30,000. Waldron Private Wealth LLC purchased a new stake in shares of STMicroelectronics during the 3rd quarter worth approximately $34,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 734 shares during the period. Ridgewood Investments LLC purchased a new position in STMicroelectronics in the second quarter valued at approximately $51,000. Finally, Tompkins Financial Corp purchased a new position in STMicroelectronics in the third quarter valued at approximately $59,000. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on STM shares. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Craig Hallum dropped their price objective 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. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Finally, Sanford C. Bernstein cut their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, STMicroelectronics presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.63.

STMicroelectronics Stock Performance

NYSE STM opened at $24.54 on Friday. The company’s 50 day simple moving average is $27.54 and its two-hundred day simple moving average is $34.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. STMicroelectronics has a 1 year low of $23.95 and a 1 year high of $51.27. The stock has a market capitalization of $22.17 billion, a PE ratio of 10.10, a P/E/G ratio of 2.98 and a beta of 1.57.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company 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 was down 26.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. Analysts predict that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

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.