STMicroelectronics N.V. $STM Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its position in STMicroelectronics N.V. (NYSE:STM) by 33.0% during the first quarter, HoldingsChannel.com reports. The firm owned 249,104 shares of the semiconductor producer’s stock after selling 122,499 shares during the quarter. Royal Bank of Canada’s holdings in STMicroelectronics were worth $8,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Private Wealth Group LLC lifted its position in STMicroelectronics by 3,746.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock valued at $26,000 after buying an additional 974 shares in the last quarter. Portus Wealth Advisors LLC purchased a new stake in STMicroelectronics during the first quarter worth approximately $32,000. Public Employees Retirement System of Ohio acquired a new stake in shares of STMicroelectronics in the first quarter worth $45,000. Advisory Services Network LLC acquired a new stake in shares of STMicroelectronics in the third quarter worth $52,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of STMicroelectronics by 350.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,680 shares of the semiconductor producer’s stock valued at $70,000 after acquiring an additional 2,085 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

Shares of STM stock opened at $56.10 on Monday. The firm has a fifty day simple moving average of $67.36 and a 200-day simple moving average of $50.30. The company has a market capitalization of $50.38 billion, a PE ratio of 109.99 and a beta of 1.95. STMicroelectronics N.V. has a twelve month low of $21.11 and a twelve month high of $81.42. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.46 billion. Equities research analysts anticipate that STMicroelectronics N.V. will post 1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on STM shares. Weiss Ratings upgraded shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. The Goldman Sachs Group cut their price objective on STMicroelectronics from $67.50 to $60.50 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Craig Hallum restated a “buy” rating and set a $70.00 price objective on shares of STMicroelectronics in a research note on Thursday, July 23rd. Mizuho decreased their target price on STMicroelectronics from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Finally, Robert W. Baird set a $90.00 target price on STMicroelectronics in a research note on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.65.

About STMicroelectronics

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.