Moran Wealth Management LLC Purchases 634 Shares of STMicroelectronics (NYSE:STM)

Moran Wealth Management LLC grew its position in shares of STMicroelectronics (NYSE:STM) by 0.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 68,573 shares of the semiconductor producer’s stock after acquiring an additional 634 shares during the period. Moran Wealth Management LLC’s holdings in STMicroelectronics were worth $2,039,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in STM. Archer Investment Corp purchased a new stake in STMicroelectronics in the third quarter worth $30,000. Waldron Private Wealth LLC purchased a new stake in shares of STMicroelectronics in the 3rd quarter worth about $34,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after acquiring an additional 734 shares in the last quarter. Ridgewood Investments LLC purchased a new position in STMicroelectronics during the 2nd quarter valued at about $51,000. Finally, Denver PWM LLC bought a new stake in STMicroelectronics during the second quarter worth about $72,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Up 0.2 %

NYSE:STM opened at $24.54 on Friday. The company has a 50 day simple moving average of $27.54 and a two-hundred day simple moving average of $34.00. The company has a market cap of $22.17 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 2.98 and a beta of 1.57. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 12 month low of $23.95 and a 12 month high of $51.27.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. STMicroelectronics’s revenue was down 26.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. Research analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on STM shares. Sanford C. Bernstein decreased their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. TD Cowen dropped their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Morgan Stanley downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Robert W. Baird decreased their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.63.

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.