Freedom Investment Management Inc. Reduces Holdings in STMicroelectronics (NYSE:STM)

Freedom Investment Management Inc. reduced its stake in STMicroelectronics (NYSE:STM) by 10.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,204 shares of the semiconductor producer’s stock after selling 1,103 shares during the period. Freedom Investment Management Inc.’s holdings in STMicroelectronics were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of STMicroelectronics during the first quarter worth $235,000. Jane Street Group LLC grew its stake in STMicroelectronics by 153.8% during the 1st quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after purchasing an additional 108,152 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of STMicroelectronics by 12.4% in the first quarter. Tidal Investments LLC now owns 20,083 shares of the semiconductor producer’s stock valued at $868,000 after purchasing an additional 2,214 shares during the period. Cetera Investment Advisers raised its stake in shares of STMicroelectronics by 340.9% in the first quarter. Cetera Investment Advisers now owns 45,285 shares of the semiconductor producer’s stock worth $1,958,000 after purchasing an additional 35,015 shares during the last quarter. Finally, Cetera Advisors LLC lifted its holdings in shares of STMicroelectronics by 145.6% during the first quarter. Cetera Advisors LLC now owns 18,735 shares of the semiconductor producer’s stock worth $810,000 after purchasing an additional 11,106 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on STM. Robert W. Baird reduced their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Morgan Stanley cut shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Susquehanna restated a “positive” rating and issued a $33.00 target price on shares of STMicroelectronics in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Price Performance

NYSE:STM opened at $25.50 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 52 week low of $23.95 and a 52 week high of $51.27. The stock’s 50-day moving average price is $27.19 and its 200-day moving average price is $33.31. The stock has a market capitalization of $23.04 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.57.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. STMicroelectronics’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share. As a group, equities analysts expect that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics 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.