63,418 Shares in STMicroelectronics (NYSE:STM) Purchased by Shariaportfolio Inc.

Shariaportfolio Inc. purchased a new position in STMicroelectronics (NYSE:STM) in the fourth quarter, Holdings Channel reports. The fund purchased 63,418 shares of the semiconductor producer’s stock, valued at approximately $1,584,000. STMicroelectronics accounts for 0.8% of Shariaportfolio Inc.’s holdings, making the stock its 20th biggest holding.

Other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of STMicroelectronics during the third quarter valued at approximately $25,000. Archer Investment Corp acquired a new position in shares of STMicroelectronics during the third quarter valued at approximately $30,000. GAMMA Investing LLC raised its holdings in shares of STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after acquiring an additional 531 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of STMicroelectronics during the fourth quarter valued at approximately $31,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of STMicroelectronics by 108.3% during the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock valued at $46,000 after acquiring an additional 809 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Ratings Changes

STM has been the subject of a number of research analyst reports. Bank of America cut STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Sanford C. Bernstein cut STMicroelectronics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $33.00 to $26.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Robert W. Baird dropped their price target on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, TD Cowen lowered STMicroelectronics from a “buy” rating to a “hold” rating and dropped their price target for the company from $32.00 to $25.00 in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.26.

STMicroelectronics Trading Down 2.3 %

Shares of STMicroelectronics stock opened at $27.58 on Monday. The firm has a market capitalization of $24.91 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.16 and a beta of 1.51. STMicroelectronics has a fifty-two week low of $21.36 and a fifty-two week high of $49.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The stock has a 50 day moving average of $24.70 and a 200 day moving average of $26.83.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, research analysts predict that STMicroelectronics will post 0.85 earnings per share for the current year.

STMicroelectronics Company 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.