Naviter Wealth LLC Invests $349,000 in STMicroelectronics (NYSE:STM)

Naviter Wealth LLC acquired a new position in shares of STMicroelectronics (NYSE:STM) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,067 shares of the semiconductor producer’s stock, valued at approximately $349,000.

Other large investors have also modified their holdings of the company. Mather Group LLC. purchased a new stake in shares of STMicroelectronics during the first quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in STMicroelectronics in the fourth quarter valued at $40,000. GAMMA Investing LLC purchased a new position in STMicroelectronics in the fourth quarter valued at $48,000. Headlands Technologies LLC increased its holdings 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 buying an additional 523 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in STMicroelectronics in the fourth quarter valued at $70,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. William Blair reissued a “market perform” rating on shares of STMicroelectronics in a report on Friday, April 26th. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and increased their target price for the company from $35.50 to $45.80 in a report on Tuesday, June 18th. StockNews.com raised STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $55.00 target price on shares of STMicroelectronics in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.76.

STMicroelectronics Stock Performance

Shares of STM stock traded up $1.12 during mid-day trading on Tuesday, hitting $40.37. 3,524,774 shares of the stock were exchanged, compared to its average volume of 3,456,962. The stock’s fifty day simple moving average is $41.58 and its two-hundred day simple moving average is $43.79. The stock has a market capitalization of $36.44 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 3.69 and a beta of 1.59. STMicroelectronics has a 12-month low of $37.21 and a 12-month high of $55.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.58 and a current ratio of 3.34.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.05). STMicroelectronics had a return on equity of 22.95% and a net margin of 22.30%. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the previous year, the business posted $1.10 EPS. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, analysts forecast that STMicroelectronics will post 2.13 EPS 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.