Modera Wealth Management LLC Sells 124,351 Shares of STMicroelectronics N.V. $STM

Modera Wealth Management LLC decreased its holdings in STMicroelectronics N.V. (NYSE:STM) by 90.9% in the third quarter, Holdings Channel.com reports. The firm owned 12,487 shares of the semiconductor producer’s stock after selling 124,351 shares during the period. Modera Wealth Management LLC’s holdings in STMicroelectronics were worth $666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in STM. Continuum Advisory LLC purchased a new position in STMicroelectronics in the 2nd quarter worth $34,000. Anchor Investment Management LLC bought a new stake in STMicroelectronics in the second quarter worth $37,000. MCF Advisors LLC bought a new stake in STMicroelectronics in the second quarter worth $57,000. Public Employees Retirement System of Ohio purchased a new stake in STMicroelectronics during the first quarter valued at about $45,000. Finally, IFP Advisors Inc boosted its position in STMicroelectronics by 126.1% during the second quarter. IFP Advisors Inc now owns 2,569 shares of the semiconductor producer’s stock valued at $192,000 after buying an additional 1,433 shares during the period. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on STM shares. Bank of America reaffirmed a “buy” rating on shares of STMicroelectronics in a research note on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of STMicroelectronics in a report on Friday, August 21st. Citigroup restated a “buy” rating on shares of STMicroelectronics in a report on Wednesday, September 2nd. Zacks Research lowered STMicroelectronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group decreased their price target on STMicroelectronics from $67.50 to $60.50 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.06.

STMicroelectronics Price Performance

Shares of STMicroelectronics stock opened at $47.01 on Tuesday. The firm has a market cap of $42.23 billion, a PE ratio of 83.95 and a beta of 1.96. STMicroelectronics N.V. has a 12-month low of $21.11 and a 12-month high of $81.42. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $50.24 and its two-hundred day simple moving average is $49.93.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, October 29th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.72 billion. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. As a group, equities analysts expect that STMicroelectronics N.V. will post 1.26 EPS for the current year.

STMicroelectronics Profile

STMicroelectronics N.V. (NYSE: STM) is a global semiconductor company that designs, develops, manufactures and markets a broad range of integrated circuits and other semiconductor products. Its offerings support applications in automotive, industrial, personal electronics, communications equipment and computer systems.

The company’s product portfolio includes microcontrollers, analog and power semiconductors, sensors, microelectromechanical systems (MEMS), connectivity products and automotive chips.