Raymond James Financial Inc. Purchases New Position in STMicroelectronics (NYSE:STM)

Raymond James Financial Inc. purchased a new stake in STMicroelectronics (NYSE:STM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 69,596 shares of the semiconductor producer’s stock, valued at approximately $1,738,000.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of STMicroelectronics by 81.4% in the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after buying an additional 531 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of STMicroelectronics in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised its position in STMicroelectronics by 225.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock worth $33,000 after purchasing an additional 921 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in 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. Finally, SBI Securities Co. Ltd. bought a new position in STMicroelectronics in the 4th quarter valued at $53,000. 5.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STM has been the topic of several research reports. Morgan Stanley raised STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research note on Thursday, February 13th. TD Cowen lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $25.00 in a research note on Monday, January 13th. Sanford C. Bernstein cut shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Susquehanna cut their price objective on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a report on Friday, January 31st. Finally, Jefferies Financial Group raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.26.

STMicroelectronics Stock Performance

STM stock opened at $21.98 on Tuesday. The firm has a market cap of $19.74 billion, a PE ratio of 13.24, a P/E/G ratio of 1.16 and a beta of 1.56. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $24.49 and its two-hundred day moving average price is $25.83. STMicroelectronics has a 1-year low of $21.36 and a 1-year high of $45.39.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) 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%. As a group, research analysts forecast that STMicroelectronics will post 0.85 earnings per share for the current 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.