STMicroelectronics (NYSE:STM) Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its stake in STMicroelectronics (NYSE:STM) by 20.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,921 shares of the semiconductor producer’s stock after purchasing an additional 4,509 shares during the quarter. Cerity Partners LLC’s holdings in STMicroelectronics were worth $800,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Archer Investment Corp acquired a new stake in STMicroelectronics during the third quarter valued at approximately $30,000. Waldron Private Wealth LLC bought a new position in STMicroelectronics during the third quarter worth $34,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in STMicroelectronics by 144.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 734 shares during the period. Ridgewood Investments LLC bought a new stake in STMicroelectronics during the second quarter valued at $51,000. Finally, Tompkins Financial Corp acquired a new stake in shares of STMicroelectronics during the third quarter worth $59,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Performance

STM stock opened at $25.93 on Friday. The company has a 50-day simple moving average of $27.05 and a 200 day simple moving average of $32.97. The company has a market capitalization of $23.43 billion, a P/E ratio of 10.67, a PEG ratio of 3.13 and a beta of 1.53. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. STMicroelectronics has a fifty-two week low of $23.95 and a fifty-two week high of $51.27.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on STM shares. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Susquehanna reiterated a “positive” rating and set a $33.00 price target on shares of STMicroelectronics in a research report on Thursday, November 21st. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Craig Hallum dropped their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and an average target price of $36.26.

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.