STMicroelectronics N.V. $STM Stock: Park Avenue Securities LLC Decreases Holdings

Park Avenue Securities LLC lessened its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 77.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,897 shares of the semiconductor producer’s stock after selling 13,771 shares during the quarter. Park Avenue Securities LLC’s holdings in STMicroelectronics were worth $208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Situational Awareness LP bought a new position in STMicroelectronics in the 2nd quarter valued at about $584,344,000. Annex Advisory Services LLC bought a new stake in shares of STMicroelectronics during the third quarter worth approximately $38,877,000. The Manufacturers Life Insurance Company bought a new stake in shares of STMicroelectronics during the first quarter worth approximately $19,132,000. Beaconlight Capital LLC bought a new stake in shares of STMicroelectronics during the first quarter worth approximately $13,284,000. Finally, Generate Investment Management Ltd acquired a new position in shares of STMicroelectronics in the third quarter valued at approximately $15,857,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $44.49 on Tuesday. The firm has a 50 day moving average of $49.65 and a 200-day moving average of $50.34. STMicroelectronics N.V. has a 12 month low of $21.11 and a 12 month high of $81.42. The company has a current ratio of 3.13, a quick ratio of 2.30 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $39.96 billion, a PE ratio of 79.46 and a beta of 2.00.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, October 29th. The semiconductor producer reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.72 billion. STMicroelectronics had a return on equity of 4.71% and a net margin of 3.80%. On average, equities research analysts predict that STMicroelectronics N.V. will post 1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on STM shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a report on Friday, October 30th. Wall Street Zen lowered STMicroelectronics from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Citigroup reaffirmed a “buy” rating on shares of STMicroelectronics in a report on Wednesday, September 2nd. Mizuho set a $70.00 price objective on STMicroelectronics in a research report on Thursday, October 29th. Finally, Barclays set a $60.00 target price on STMicroelectronics in a report on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.06.

STMicroelectronics Company 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.