Northern Trust Corp Acquires 280,383 Shares of STMicroelectronics (NYSE:STM)

Northern Trust Corp boosted its holdings in STMicroelectronics (NYSE:STM) by 83.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 616,800 shares of the semiconductor producer’s stock after purchasing an additional 280,383 shares during the quarter. Northern Trust Corp owned about 0.07% of STMicroelectronics worth $15,401,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in shares of STMicroelectronics by 59.2% in the 4th quarter. Hsbc Holdings PLC now owns 43,291 shares of the semiconductor producer’s stock valued at $1,083,000 after acquiring an additional 16,098 shares in the last quarter. SIH Partners LLLP bought a new stake in shares of STMicroelectronics in the 4th quarter valued at $243,000. Tower Research Capital LLC TRC increased its stake in STMicroelectronics by 1,472.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,140 shares of the semiconductor producer’s stock valued at $378,000 after purchasing an additional 14,177 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in STMicroelectronics by 180.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,844 shares of the semiconductor producer’s stock valued at $196,000 after purchasing an additional 5,046 shares in the last quarter. Finally, Capital Research Global Investors bought a new stake in STMicroelectronics in the fourth quarter valued at $1,245,000. 5.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on STM. Susquehanna decreased their target price on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research report on Friday, January 31st. Barclays downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. Sanford C. Bernstein lowered shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $33.00 to $26.00 in a research note on Wednesday, February 5th. Bank of America lowered shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Finally, TD Cowen boosted their target price on shares of STMicroelectronics from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, STMicroelectronics currently has an average rating of “Hold” and an average target price of $30.97.

STMicroelectronics Trading Down 0.5%

Shares of STM stock opened at $26.00 on Thursday. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.16 and a beta of 1.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The company has a 50-day simple moving average of $22.48 and a two-hundred day simple moving average of $24.35. STMicroelectronics has a 52-week low of $17.25 and a 52-week high of $45.39.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Research analysts anticipate that STMicroelectronics will post 0.85 EPS for the current fiscal year.

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.