Corient Private Wealth LLC Has $1.51 Million Position in STMicroelectronics (NYSE:STM)

Corient Private Wealth LLC trimmed its position in STMicroelectronics (NYSE:STM) by 47.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 60,498 shares of the semiconductor producer’s stock after selling 55,555 shares during the period. Corient Private Wealth LLC’s holdings in STMicroelectronics were worth $1,511,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Clear Creek Financial Management LLC acquired a new position in STMicroelectronics in the fourth quarter valued at approximately $468,000. Point72 Asset Management L.P. acquired a new stake in shares of STMicroelectronics during the third quarter worth $1,924,000. Callan Family Office LLC acquired a new stake in shares of STMicroelectronics during the fourth quarter worth $486,000. Schechter Investment Advisors LLC bought a new stake in STMicroelectronics in the fourth quarter valued at about $758,000. Finally, Diversified Trust Co acquired a new position in STMicroelectronics in the fourth quarter valued at about $583,000. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on STM. Barclays cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 22nd. BNP Paribas assumed coverage on shares of STMicroelectronics in a report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 target price on the stock. Morgan Stanley raised shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. Sanford C. Bernstein cut shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $33.00 to $26.00 in a research report on Wednesday, February 5th. Finally, Susquehanna lowered their price target on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.26.

STMicroelectronics Price Performance

NYSE STM opened at $24.06 on Wednesday. STMicroelectronics has a 12-month low of $21.36 and a 12-month high of $45.39. The firm’s 50 day moving average is $24.69 and its 200-day moving average is $26.00. The company has a market capitalization of $21.61 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11.

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

About STMicroelectronics

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.