STMicroelectronics N.V. $STM Stock Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its position in STMicroelectronics N.V. (NYSE:STM) by 74.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,936 shares of the semiconductor producer’s stock after selling 14,739 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in STMicroelectronics were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of STM. Situational Awareness LP acquired a new position in STMicroelectronics during the 2nd quarter worth about $584,344,000. Annex Advisory Services LLC purchased a new stake in STMicroelectronics during the third quarter worth about $38,877,000. The Manufacturers Life Insurance Company purchased a new stake in STMicroelectronics during the first quarter worth about $19,132,000. Beaconlight Capital LLC purchased a new stake in STMicroelectronics during the first quarter worth about $13,284,000. Finally, Generate Investment Management Ltd acquired a new stake in shares of STMicroelectronics during the third quarter worth about $15,857,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

STM stock opened at $41.74 on Monday. The business has a 50 day moving average price of $49.75 and a 200 day moving average price of $50.26. The company has a quick ratio of 2.30, a current ratio of 3.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $37.49 billion, a price-to-earnings ratio of 74.54 and a beta of 2.00. STMicroelectronics N.V. has a fifty-two week low of $21.11 and a fifty-two week high of $81.42.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, October 29th. The semiconductor producer reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.72 billion. STMicroelectronics had a net margin of 3.80% and a return on equity of 4.71%. Equities research analysts anticipate that STMicroelectronics N.V. will post 1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

STM has been the subject of several recent research reports. Morningstar raised shares of STMicroelectronics to a “buy” rating in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a research note on Friday, October 30th. UBS Group reaffirmed a “buy” rating on shares of STMicroelectronics in a research note on Friday, October 30th. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a report on Wednesday, September 2nd. Finally, TD Cowen decreased their price target on shares of STMicroelectronics from $55.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, October 19th. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $75.06.

STMicroelectronics Company Profile

STMicroelectronics is a global semiconductor company that designs, develops and manufactures chips and related products for customers in a range of industries. Its portfolio includes microcontrollers, analog and mixed-signal integrated circuits, power semiconductors, sensors, and microelectromechanical systems (MEMS).

The company’s products are used in automotive systems, industrial equipment, communications devices, computers and consumer electronics. Its offerings support applications such as vehicle control and safety, factory automation, power management, and motion and environmental sensing.

STMicroelectronics was formed in 1987 through the merger of Italy’s SGS Microelettronica and France’s Thomson Semiconducteurs.