Sei Investments Co. Sells 58,092 Shares of STMicroelectronics N.V. $STM

Sei Investments Co. cut its stake in STMicroelectronics N.V. (NYSE:STM) by 66.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,325 shares of the semiconductor producer’s stock after selling 58,092 shares during the quarter. Sei Investments Co.’s holdings in STMicroelectronics were worth $1,013,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in STM. Portus Wealth Advisors LLC purchased a new stake in STMicroelectronics in the first quarter worth approximately $32,000. CIBC Private Wealth Group LLC boosted its stake in shares of STMicroelectronics by 3,746.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after buying an additional 974 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of STMicroelectronics in the third quarter worth $52,000. Brown Brothers Harriman & Co. increased its position in STMicroelectronics by 350.4% during the fourth 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 last quarter. Finally, Banque Cantonale Vaudoise bought a new position in STMicroelectronics in the fourth quarter valued at about $74,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Trading Down 1.5%

STMicroelectronics stock opened at $54.20 on Thursday. STMicroelectronics N.V. has a 1 year low of $21.11 and a 1 year high of $81.42. The firm’s 50 day moving average price is $66.06 and its 200-day moving average price is $50.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.78 and a quick ratio of 2.08. The stock has a market cap of $48.68 billion, a P/E ratio of 106.28 and a beta of 1.95.

STMicroelectronics (NYSE:STM) last issued its earnings results on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.46 billion. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. On average, equities analysts predict that STMicroelectronics N.V. will post 1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

STM has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price target on STMicroelectronics from $67.50 to $60.50 and set a “neutral” rating for the company in a research note on Monday, July 27th. Wall Street Zen raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Barclays set a $60.00 price target on shares of STMicroelectronics in a research report on Friday, July 24th. Robert W. Baird set a $90.00 price target on shares of STMicroelectronics in a research note on Friday, April 24th. Finally, TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a research report on Monday, July 13th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and an average target price 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.