STMicroelectronics N.V. $STM Stock Holdings Lessened by Candriam S.C.A.

Candriam S.C.A. lessened its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 31.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 61,863 shares of the semiconductor producer’s stock after selling 28,947 shares during the quarter. Candriam S.C.A.’s holdings in STMicroelectronics were worth $3,313,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Situational Awareness LP bought a new position in STMicroelectronics in the 2nd quarter valued at about $584,344,000. Annex Advisory Services LLC acquired a new stake in STMicroelectronics during the third quarter worth approximately $38,877,000. The Manufacturers Life Insurance Company acquired a new stake in STMicroelectronics during the first quarter worth approximately $19,132,000. Beaconlight Capital LLC acquired a new stake in STMicroelectronics during the first quarter worth approximately $13,284,000. Finally, Generate Investment Management Ltd bought a new stake in shares of STMicroelectronics during the third quarter worth approximately $15,857,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

NYSE:STM opened at $44.71 on Wednesday. STMicroelectronics N.V. has a 52 week low of $21.11 and a 52 week high of $81.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.30 and a current ratio of 3.13. The firm’s 50-day simple moving average is $49.54 and its 200 day simple moving average is $50.41. The firm has a market cap of $40.16 billion, a price-to-earnings ratio of 79.84 and a beta of 2.00.

STMicroelectronics (NYSE:STM) last posted 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 business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.72 billion. STMicroelectronics had a net margin of 3.80% and a return on equity of 4.71%. As a group, sell-side analysts predict that STMicroelectronics N.V. will post 1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STM has been the topic of several research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of STMicroelectronics in a research report on Monday, November 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a research note on Friday, October 30th. TD Cowen dropped their price target on STMicroelectronics from $55.00 to $50.00 and set a “hold” rating for the company in a report on Monday, October 19th. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research note on Wednesday, October 21st. Finally, Barclays set a $60.00 price objective on STMicroelectronics in a report on Friday, July 24th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.06.

STMicroelectronics Profile

STMicroelectronics is a global semiconductor company that designs, develops and manufactures chips and related products for customers in a range of industries. Its portfolio includes microcontrollers, analog and mixed-signal integrated circuits, power semiconductors, sensors, and microelectromechanical systems (MEMS). The company’s products are used in automotive systems, industrial equipment, communications devices, computers and consumer electronics. Its offerings support applications such as vehicle control and safety, factory automation, power management, and motion and environmental sensing.