Firsthand Capital Management Inc. Has $149,000 Holdings in STMicroelectronics (NYSE:STM)

Firsthand Capital Management Inc. lowered its position in STMicroelectronics (NYSE:STM) by 57.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,000 shares of the semiconductor producer’s stock after selling 6,761 shares during the period. Firsthand Capital Management Inc.’s holdings in STMicroelectronics were worth $149,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Truvestments Capital LLC bought a new position in STMicroelectronics during the third quarter worth $25,000. Archer Investment Corp bought a new position in shares of STMicroelectronics in the 3rd quarter worth about $30,000. Waldron Private Wealth LLC acquired a new position in shares of STMicroelectronics in the 3rd quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of STMicroelectronics by 144.2% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after purchasing an additional 734 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in STMicroelectronics during the second quarter worth approximately $51,000. 5.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

STM has been the topic of several recent analyst reports. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Craig Hallum dropped their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Robert W. Baird decreased their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Finally, Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $25.53 on Friday. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. STMicroelectronics has a fifty-two week low of $23.95 and a fifty-two week high of $51.27. The firm’s 50-day simple moving average is $27.24 and its 200 day simple moving average is $33.47.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was down 26.6% on a year-over-year basis. As a group, research analysts anticipate that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics 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.