Frank Rimerman Advisors LLC Takes Position in STMicroelectronics N.V. $STM

Frank Rimerman Advisors LLC bought a new position in shares of STMicroelectronics N.V. (NYSE:STM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,453 shares of the semiconductor producer’s stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rothschild Investment LLC increased its stake in STMicroelectronics by 248.4% in the second quarter. Rothschild Investment LLC now owns 1,303 shares of the semiconductor producer’s stock valued at $40,000 after purchasing an additional 929 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of STMicroelectronics by 63.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,167 shares of the semiconductor producer’s stock valued at $48,000 after buying an additional 838 shares in the last quarter. IFP Advisors Inc grew its position in shares of STMicroelectronics by 85.4% in the 2nd quarter. IFP Advisors Inc now owns 2,269 shares of the semiconductor producer’s stock valued at $69,000 after buying an additional 1,045 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of STMicroelectronics by 396.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,197 shares of the semiconductor producer’s stock valued at $70,000 after buying an additional 2,553 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in STMicroelectronics by 114.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,509 shares of the semiconductor producer’s stock worth $76,000 after acquiring an additional 1,338 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group set a $26.50 price objective on shares of STMicroelectronics and gave the company a “neutral” rating in a research note on Friday, July 25th. Weiss Ratings cut STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. BNP Paribas Exane upgraded STMicroelectronics from a “neutral” rating to an “outperform” rating and set a $31.00 price target on the stock in a research note on Thursday, September 4th. Susquehanna boosted their price objective on STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Finally, TD Cowen lowered their target price on shares of STMicroelectronics from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, STMicroelectronics currently has a consensus rating of “Hold” and a consensus price target of $31.19.

STMicroelectronics Stock Down 5.3%

STM opened at $21.18 on Friday. STMicroelectronics N.V. has a 52 week low of $17.25 and a 52 week high of $33.47. The business has a 50 day moving average price of $26.51 and a two-hundred day moving average price of $27.21. The company has a quick ratio of 2.28, a current ratio of 3.22 and a debt-to-equity ratio of 0.11. The company has a market cap of $19.02 billion, a PE ratio of 36.51, a P/E/G ratio of 4.59 and a beta of 1.67.

STMicroelectronics (NYSE:STM) last released its earnings results on Wednesday, November 5th. The semiconductor producer reported $0.29 earnings per share (EPS) for the quarter. STMicroelectronics had a return on equity of 4.06% and a net margin of 4.55%.The business had revenue of $3.19 billion for the quarter. As a group, research analysts anticipate that STMicroelectronics N.V. will post 0.85 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.