297,167 Shares of STMicroelectronics N.V. $STM Purchased by Generate Investment Management Ltd

Generate Investment Management Ltd bought a new stake in shares of STMicroelectronics N.V. (NYSE:STM) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 297,167 shares of the semiconductor producer’s stock, valued at approximately $15,857,000.

A number of other large investors also recently added to or reduced their stakes in the business. Situational Awareness LP bought a new position in STMicroelectronics in the 2nd quarter worth approximately $584,344,000. The Manufacturers Life Insurance Company bought a new stake in shares of STMicroelectronics during the first quarter valued at approximately $19,132,000. Beaconlight Capital LLC purchased a new position in shares of STMicroelectronics in the first quarter worth $13,284,000. Quantinno Capital Management LP lifted its holdings in shares of STMicroelectronics by 29.9% in the first quarter. Quantinno Capital Management LP now owns 277,370 shares of the semiconductor producer’s stock worth $9,583,000 after buying an additional 63,786 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of STMicroelectronics by 65.3% in the first quarter. PNC Financial Services Group Inc. now owns 228,674 shares of the semiconductor producer’s stock worth $7,901,000 after buying an additional 90,330 shares in the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STM. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of STMicroelectronics in a research note on Friday, August 21st. Morgan Stanley reiterated an “overweight” rating on shares of STMicroelectronics in a report on Tuesday, June 30th. Mizuho decreased their price target on shares of STMicroelectronics from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Wall Street Zen downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Finally, The Goldman Sachs Group cut their price objective on STMicroelectronics from $67.50 to $60.50 and set a “neutral” rating for the company in a research report on Monday, July 27th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, STMicroelectronics has an average rating of “Moderate Buy” and an average price target of $76.17.

STMicroelectronics Price Performance

Shares of STM stock traded down $2.05 on Wednesday, reaching $47.52. The company’s stock had a trading volume of 5,207,170 shares, compared to its average volume of 10,058,975. The stock’s fifty day simple moving average is $52.11 and its 200-day simple moving average is $56.93. STMicroelectronics N.V. has a 1 year low of $21.11 and a 1 year high of $81.42. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $42.68 billion, a price-to-earnings ratio of 93.30 and a beta of 1.96.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.46 billion. Analysts forecast that STMicroelectronics N.V. will post 1.30 earnings per share for the current fiscal year.

STMicroelectronics Company Profile

STMicroelectronics N.V. (NYSE: STM) is a global semiconductor company that designs, develops, manufactures and markets a broad range of electronic components and solutions. Its products support applications in automotive, industrial, personal electronics, communications infrastructure and other technology markets.

The company’s portfolio includes microcontrollers, microprocessors, analog and mixed-signal integrated circuits, power semiconductors, sensors, MEMS devices, connectivity products and embedded-processing solutions.