17,773 Shares in STMicroelectronics (NYSE:STM) Purchased by FORA Capital LLC

FORA Capital LLC acquired a new stake in STMicroelectronics (NYSE:STM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,773 shares of the semiconductor producer’s stock, valued at approximately $528,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Inspire Advisors LLC boosted its stake in shares of STMicroelectronics by 2.9% in the second quarter. Inspire Advisors LLC now owns 12,970 shares of the semiconductor producer’s stock valued at $509,000 after buying an additional 363 shares in the last quarter. Gallacher Capital Management LLC boosted its position in shares of STMicroelectronics by 4.6% during the 2nd quarter. Gallacher Capital Management LLC now owns 9,783 shares of the semiconductor producer’s stock worth $384,000 after purchasing an additional 427 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of STMicroelectronics by 6.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,967 shares of the semiconductor producer’s stock worth $352,000 after purchasing an additional 564 shares during the period. Moran Wealth Management LLC increased its holdings in shares of STMicroelectronics by 0.9% in the 3rd quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock valued at $2,039,000 after purchasing an additional 634 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of STMicroelectronics by 7.7% in the third quarter. Ballentine Partners LLC now owns 10,278 shares of the semiconductor producer’s stock valued at $306,000 after purchasing an additional 733 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Robert W. Baird reduced their price objective on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Morgan Stanley lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Susquehanna reaffirmed a “positive” rating and set a $33.00 price target on shares of STMicroelectronics in a research note on Thursday, November 21st. Finally, StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Price Performance

STMicroelectronics stock opened at $25.41 on Friday. The firm’s 50-day moving average is $27.31 and its two-hundred day moving average is $33.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. The stock has a market capitalization of $22.96 billion, a P/E ratio of 10.46, a P/E/G ratio of 3.09 and a beta of 1.57. STMicroelectronics has a 12-month low of $23.95 and a 12-month high of $51.27.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, topping the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the company earned $1.16 EPS. STMicroelectronics’s revenue for the quarter was down 26.6% on a year-over-year basis. Equities analysts predict that STMicroelectronics will post 1.64 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.