PNC Financial Services Group Inc. Increases Holdings in STMicroelectronics (NYSE:STM)

PNC Financial Services Group Inc. lifted its position in STMicroelectronics (NYSE:STM) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,280 shares of the semiconductor producer’s stock after purchasing an additional 539 shares during the quarter. PNC Financial Services Group Inc.’s holdings in STMicroelectronics were worth $307,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of STM. Truvestments Capital LLC acquired a new stake in STMicroelectronics during the third quarter worth about $25,000. GAMMA Investing LLC grew its holdings in STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after acquiring an additional 531 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in STMicroelectronics during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC grew its holdings in STMicroelectronics by 225.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock worth $33,000 after acquiring an additional 921 shares during the period. Finally, TD Private Client Wealth LLC grew its holdings in STMicroelectronics by 108.3% during the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after acquiring an additional 809 shares during the period. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Stock Performance

Shares of NYSE:STM opened at $24.04 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. The business’s 50 day moving average price is $24.69 and its 200-day moving average price is $26.11. The firm has a market capitalization of $21.59 billion, a PE ratio of 14.48, a P/E/G ratio of 1.16 and a beta of 1.56. STMicroelectronics has a 1 year low of $21.36 and a 1 year high of $45.39.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, equities research analysts expect that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on STM shares. Bank of America lowered STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Morgan Stanley raised STMicroelectronics from an “underweight” rating to an “equal weight” rating in a report on Thursday, February 13th. Susquehanna dropped their target price on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a report on Friday, January 31st. TD Cowen lowered STMicroelectronics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $32.00 to $25.00 in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.26.

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.