JPMorgan Chase & Co. Buys 212,499 Shares of STMicroelectronics N.V. $STM

JPMorgan Chase & Co. boosted its position in shares of STMicroelectronics N.V. (NYSE:STM) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,349,547 shares of the semiconductor producer’s stock after acquiring an additional 212,499 shares during the period. JPMorgan Chase & Co. owned 0.37% of STMicroelectronics worth $101,860,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on STM. Susquehanna boosted their price objective on shares of STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. BNP Paribas raised STMicroelectronics from a “hold” rating to an “outperform” rating in a research note on Thursday, September 4th. Citigroup reissued a “buy” rating on shares of STMicroelectronics in a research note on Thursday, September 4th. BNP Paribas Exane raised STMicroelectronics from a “neutral” rating to an “outperform” rating and set a $31.00 price target on the stock in a research report on Thursday, September 4th. Finally, Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.17.

STMicroelectronics Stock Performance

Shares of STM opened at $22.67 on Friday. STMicroelectronics N.V. has a one year low of $17.25 and a one year high of $33.47. The company has a market cap of $20.36 billion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 4.59 and a beta of 1.67. The firm has a 50-day moving average of $26.03 and a 200-day moving average of $27.19. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.22 and a quick ratio of 2.28.

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