PNC Financial Services Group Inc. Sells 487 Shares of STMicroelectronics (NYSE:STM)

PNC Financial Services Group Inc. cut its position in shares of STMicroelectronics (NYSE:STM) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,229 shares of the semiconductor producer’s stock after selling 487 shares during the quarter. PNC Financial Services Group Inc.’s holdings in STMicroelectronics were worth $914,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Thomas J. Herzfeld Advisors Inc. grew its stake in STMicroelectronics by 548.4% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock valued at $25,000 after purchasing an additional 499 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in STMicroelectronics in the fourth quarter valued at approximately $40,000. GAMMA Investing LLC bought a new position in STMicroelectronics in the fourth quarter valued at approximately $48,000. Headlands Technologies LLC grew its stake in STMicroelectronics by 74.9% in the fourth quarter. Headlands Technologies LLC now owns 1,221 shares of the semiconductor producer’s stock valued at $61,000 after purchasing an additional 523 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in STMicroelectronics in the fourth quarter valued at approximately $70,000. 5.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on STM shares. StockNews.com upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. William Blair reiterated a “market perform” rating on shares of STMicroelectronics in a research note on Friday, April 26th. The Goldman Sachs Group upgraded STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $35.50 to $45.80 in a research note on Tuesday, June 18th. Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Susquehanna reiterated a “positive” rating and set a $55.00 target price on shares of STMicroelectronics in a research note on Monday, April 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, STMicroelectronics has an average rating of “Moderate Buy” and an average price target of $49.76.

STMicroelectronics Stock Performance

NYSE:STM opened at $40.26 on Tuesday. The stock has a market cap of $36.35 billion, a P/E ratio of 10.32, a PEG ratio of 3.82 and a beta of 1.62. The stock has a 50 day simple moving average of $41.59 and a 200 day simple moving average of $44.18. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17. STMicroelectronics has a 1-year low of $37.21 and a 1-year high of $55.85.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.05). The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.61 billion. STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. STMicroelectronics’s revenue was down 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 earnings per share. Research analysts anticipate that STMicroelectronics will post 2.13 earnings per share for the current year.

STMicroelectronics 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.