Principal Financial Group Inc. Sells 301,399 Shares of STMicroelectronics N.V. $STM

Principal Financial Group Inc. trimmed its holdings in shares of STMicroelectronics N.V. (NYSE:STM) by 95.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,708 shares of the semiconductor producer’s stock after selling 301,399 shares during the period. Principal Financial Group Inc.’s holdings in STMicroelectronics were worth $444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SYM FINANCIAL Corp acquired a new stake in STMicroelectronics during the 3rd quarter worth $201,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of STMicroelectronics by 4.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 51,300 shares of the semiconductor producer’s stock worth $1,450,000 after purchasing an additional 2,297 shares during the period. Ridgewood Investments LLC increased its holdings in STMicroelectronics by 48.1% in the third quarter. Ridgewood Investments LLC now owns 23,625 shares of the semiconductor producer’s stock valued at $668,000 after purchasing an additional 7,675 shares during the last quarter. Naples Global Advisors LLC lifted its stake in STMicroelectronics by 4.3% in the third quarter. Naples Global Advisors LLC now owns 25,633 shares of the semiconductor producer’s stock valued at $724,000 after buying an additional 1,063 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in STMicroelectronics by 54.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,054 shares of the semiconductor producer’s stock valued at $565,000 after buying an additional 7,052 shares during the period. 5.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Robert W. Baird set a $45.00 target price on STMicroelectronics in a research report on Friday, October 24th. Mizuho set a $28.00 price objective on shares of STMicroelectronics in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of STMicroelectronics in a research note on Wednesday, January 21st. Finally, TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a research report on Friday, October 24th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.93.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $33.23 on Friday. The company has a fifty day moving average price of $28.68 and a 200 day moving average price of $26.95. The firm has a market cap of $29.85 billion, a PE ratio of 184.64 and a beta of 1.59. The company has a current ratio of 3.36, a quick ratio of 2.43 and a debt-to-equity ratio of 0.10. STMicroelectronics N.V. has a 1-year low of $17.25 and a 1-year high of $35.07.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, January 29th. The semiconductor producer reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.29 billion. STMicroelectronics had a net margin of 1.41% and a return on equity of 2.70%. Research analysts predict that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.

STMicroelectronics Profile

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.