STMicroelectronics N.V. $STM Stock: Kestra Private Wealth Services LLC Cuts Holdings

Kestra Private Wealth Services LLC trimmed its holdings in STMicroelectronics N.V. (NYSE:STM) by 74.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,936 shares of the semiconductor producer’s stock after selling 14,739 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in STMicroelectronics were worth $263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in STM. Mirae Asset Global Investments Co. Ltd. acquired a new position in STMicroelectronics during the third quarter worth $177,000. Vise Technologies Inc. grew its holdings in STMicroelectronics by 44.8% in the 3rd quarter. Vise Technologies Inc. now owns 30,226 shares of the semiconductor producer’s stock valued at $1,613,000 after buying an additional 9,352 shares in the last quarter. State of Wyoming acquired a new stake in shares of STMicroelectronics in the 3rd quarter worth $432,000. Brian Low Financial Group LLC increased its stake in shares of STMicroelectronics by 716.7% in the 3rd quarter. Brian Low Financial Group LLC now owns 30,022 shares of the semiconductor producer’s stock worth $1,602,000 after acquiring an additional 26,346 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of STMicroelectronics by 13.2% in the 3rd quarter. D.A. Davidson & CO. now owns 6,564 shares of the semiconductor producer’s stock worth $350,000 after acquiring an additional 767 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Cowen reduced their price target on STMicroelectronics from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, October 19th. Morningstar upgraded shares of STMicroelectronics to a “buy” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. UBS Group reiterated a “buy” rating on shares of STMicroelectronics in a report on Friday, October 30th. Finally, Bank of America reissued a “buy” rating on shares of STMicroelectronics in a research note on Friday, October 30th. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and an average target price of $75.06.

STMicroelectronics Stock Performance

NYSE STM opened at $41.74 on Monday. The stock has a fifty day simple moving average of $49.75 and a 200-day simple moving average of $50.26. The company has a current ratio of 3.13, a quick ratio of 2.30 and a debt-to-equity ratio of 0.16. The stock has a market cap of $37.49 billion, a PE ratio of 74.54 and a beta of 2.00. STMicroelectronics N.V. has a twelve month low of $21.11 and a twelve month high of $81.42.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, October 29th. The semiconductor producer reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.72 billion. STMicroelectronics had a net margin of 3.80% and a return on equity of 4.71%. Equities analysts anticipate that STMicroelectronics N.V. will post 1.25 earnings per share for the current year.

About STMicroelectronics

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.

STMicroelectronics was formed in 1987 through the merger of Italy’s SGS Microelettronica and France’s Thomson Semiconducteurs.