Lazard Asset Management LLC Has $46.69 Million Stock Position in STMicroelectronics (NYSE:STM)

Lazard Asset Management LLC lifted its holdings in shares of STMicroelectronics (NYSE:STM) by 1,564,831.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,079,803 shares of the semiconductor producer’s stock after purchasing an additional 1,079,734 shares during the quarter. Lazard Asset Management LLC owned approximately 0.12% of STMicroelectronics worth $46,690,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of STMicroelectronics during the 1st quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in STMicroelectronics in the 4th quarter valued at $40,000. GAMMA Investing LLC acquired a new position in STMicroelectronics in the 4th quarter valued at $48,000. Headlands Technologies LLC grew its stake in STMicroelectronics by 74.9% in the 4th 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. acquired a new position in STMicroelectronics in the 4th quarter valued at $70,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on STM shares. TD Cowen lowered their target price on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday. Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and increased their price target for the company from $35.50 to $45.80 in a report on Tuesday, June 18th. Morgan Stanley downgraded shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday. Finally, Susquehanna reissued a “positive” rating and issued a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.56.

STMicroelectronics Price Performance

Shares of NYSE:STM traded up $0.52 during midday trading on Friday, reaching $33.99. 5,584,181 shares of the company’s stock were exchanged, compared to its average volume of 3,633,410. The company’s 50 day simple moving average is $41.52 and its two-hundred day simple moving average is $42.82. The firm has a market capitalization of $30.71 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 3.19 and a beta of 1.59. STMicroelectronics has a 12 month low of $33.16 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 released its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.35%. The firm’s revenue for the quarter was down 25.3% compared to the same quarter last year. During the same period last year, the firm earned $1.06 EPS. Equities research analysts expect that STMicroelectronics will post 2.01 earnings per share for the current fiscal 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.