Foresight Global Investors Inc. Boosts Position in STMicroelectronics N.V. $STM

Foresight Global Investors Inc. boosted its position in STMicroelectronics N.V. (NYSE:STM) by 19.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 608,539 shares of the semiconductor producer’s stock after buying an additional 100,595 shares during the quarter. STMicroelectronics makes up about 13.1% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 3rd biggest holding. Foresight Global Investors Inc.’s holdings in STMicroelectronics were worth $18,506,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in STM. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of STMicroelectronics in the 2nd quarter worth approximately $406,000. AlphaCore Capital LLC bought a new position in STMicroelectronics during the 2nd quarter worth $57,000. Legal & General Group Plc acquired a new stake in STMicroelectronics in the second quarter worth $119,000. MAI Capital Management lifted its stake in STMicroelectronics by 40.5% in the second quarter. MAI Capital Management now owns 4,121 shares of the semiconductor producer’s stock valued at $125,000 after buying an additional 1,187 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of STMicroelectronics by 6.8% during the second quarter. JPMorgan Chase & Co. now owns 3,349,547 shares of the semiconductor producer’s stock valued at $101,860,000 after acquiring an additional 212,499 shares during the period. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Stock Performance

Shares of NYSE STM opened at $22.67 on Thursday. The stock’s fifty day simple moving average is $26.14 and its 200 day simple moving average is $27.22. The stock has a market capitalization of $20.36 billion, a price-to-earnings ratio of 39.08, a PEG ratio of 4.59 and a beta of 1.67. The company has a quick ratio of 2.28, a current ratio of 3.22 and a debt-to-equity ratio of 0.11. STMicroelectronics N.V. has a 52-week low of $17.25 and a 52-week high of $33.47.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Wednesday, November 5th. The semiconductor producer reported $0.29 earnings per share 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, sell-side analysts forecast that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

STM has been the topic of a number of analyst reports. Mizuho started coverage on shares of STMicroelectronics in a report on Tuesday. They issued a “neutral” rating and a $22.00 price objective on the stock. Barclays restated an “underweight” rating on shares of STMicroelectronics in a research report on Tuesday, September 16th. BNP Paribas raised STMicroelectronics from a “hold” rating to an “outperform” rating in a report on Thursday, September 4th. BNP Paribas Exane raised STMicroelectronics from a “neutral” rating to an “outperform” rating and set a $31.00 price objective for the company in a report on Thursday, September 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of STMicroelectronics in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.17.

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.