Invesco Ltd. Increases Stock Holdings in STMicroelectronics (NYSE:STM)

Invesco Ltd. lifted its stake in shares of STMicroelectronics (NYSE:STM) by 94.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,767,787 shares of the semiconductor producer’s stock after purchasing an additional 858,624 shares during the quarter. Invesco Ltd. owned about 0.20% of STMicroelectronics worth $44,142,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after acquiring an additional 531 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in STMicroelectronics in the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its holdings in STMicroelectronics by 225.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock valued at $33,000 after purchasing an additional 921 shares in the last quarter. Rakuten Securities Inc. increased its position in STMicroelectronics by 197.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 1,180 shares during the period. Finally, TD Private Client Wealth LLC raised its stake in shares of STMicroelectronics by 108.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after buying an additional 809 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $20.53 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. STMicroelectronics has a 1-year low of $17.25 and a 1-year high of $45.39. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.16 and a beta of 1.56. The business has a 50-day moving average of $23.45 and a 200-day moving average of $25.09.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, equities analysts anticipate that STMicroelectronics will post 0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

STM has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered STMicroelectronics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. TD Cowen cut shares of STMicroelectronics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $25.00 in a research note on Monday, January 13th. Barclays lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Bank of America downgraded STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.26.

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.