Atlas Capital Advisors LLC Sells 4,687 Shares of STMicroelectronics (NYSE:STM)

Atlas Capital Advisors LLC lessened its stake in shares of STMicroelectronics (NYSE:STM) by 43.2% in the second quarter, HoldingsChannel.com reports. The firm owned 6,162 shares of the semiconductor producer’s stock after selling 4,687 shares during the quarter. Atlas Capital Advisors LLC’s holdings in STMicroelectronics were worth $242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in STMicroelectronics by 55.3% during the 1st quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock valued at $250,831,000 after buying an additional 2,065,387 shares during the period. Lazard Asset Management LLC grew its stake in shares of STMicroelectronics by 1,564,831.9% in the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after purchasing an additional 1,079,734 shares during the last quarter. Quadrature Capital Ltd increased its holdings in STMicroelectronics by 337.8% during the 4th quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock valued at $25,561,000 after purchasing an additional 394,147 shares during the period. Grand Alliance Asset Management Ltd bought a new position in STMicroelectronics during the 4th quarter valued at approximately $14,036,000. Finally, Delta Global Management LP lifted its holdings in STMicroelectronics by 31.3% in the 1st quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer’s stock worth $45,300,000 after buying an additional 249,905 shares during the period. Institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

STM has been the topic of several research analyst reports. Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Sanford C. Bernstein decreased their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and boosted their price target for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. Finally, TD Cowen lowered their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, STMicroelectronics has a consensus rating of “Moderate Buy” and a consensus target price of $43.13.

STMicroelectronics Stock Up 2.5 %

NYSE STM traded up $0.79 during trading hours on Friday, reaching $31.94. 3,549,262 shares of the company’s stock traded hands, compared to its average volume of 3,662,697. STMicroelectronics has a 52-week low of $28.19 and a 52-week high of $51.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. The firm has a 50-day simple moving average of $35.60 and a 200 day simple moving average of $40.43. The firm has a market cap of $28.85 billion, a PE ratio of 8.19, a PEG ratio of 3.73 and a beta of 1.59.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was down 25.3% on a year-over-year basis. Sell-side analysts anticipate that STMicroelectronics will post 1.66 EPS for the current fiscal year.

About STMicroelectronics

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.