Penserra Capital Management LLC Trims Stock Position in STMicroelectronics (NYSE:STM)

Penserra Capital Management LLC decreased its position in STMicroelectronics (NYSE:STM) by 1.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,474 shares of the semiconductor producer’s stock after selling 1,082 shares during the period. Penserra Capital Management LLC’s holdings in STMicroelectronics were worth $2,749,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of STM. Cerity Partners LLC grew its holdings in STMicroelectronics by 20.1% during the 3rd quarter. Cerity Partners LLC now owns 26,921 shares of the semiconductor producer’s stock worth $800,000 after acquiring an additional 4,509 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of STMicroelectronics by 54.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 40,501 shares of the semiconductor producer’s stock worth $1,204,000 after purchasing an additional 14,296 shares during the period. Investors Research Corp boosted its stake in shares of STMicroelectronics by 376.4% during the third quarter. Investors Research Corp now owns 20,725 shares of the semiconductor producer’s stock valued at $616,000 after purchasing an additional 16,375 shares in the last quarter. Moran Wealth Management LLC increased its holdings in STMicroelectronics by 0.9% during the third quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock valued at $2,039,000 after buying an additional 634 shares during the period. Finally, Archer Investment Corp bought a new position in STMicroelectronics in the third quarter worth approximately $30,000. Institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on STM shares. Robert W. Baird dropped their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Craig Hallum cut their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Susquehanna reissued a “positive” rating and set a $33.00 price target on shares of STMicroelectronics in a research report on Thursday, November 21st. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Finally, StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, STMicroelectronics currently has an average rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Trading Up 5.2 %

NYSE STM opened at $25.76 on Tuesday. The stock has a market cap of $23.27 billion, a P/E ratio of 10.60, a P/E/G ratio of 2.98 and a beta of 1.57. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 12-month low of $23.95 and a 12-month high of $51.27. The company has a fifty day simple moving average of $27.41 and a two-hundred day simple moving average of $33.69.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The firm’s quarterly revenue was down 26.6% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. On average, analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Company Profile

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.