IFC Holdings Incorporated FL raised its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 6.8% during the second quarter, Holdings Channel reports. The fund owned 118,574 shares of the semiconductor producer’s stock after buying an additional 7,508 shares during the period. IFC Holdings Incorporated FL’s holdings in STMicroelectronics N.V. were worth $1,699,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Wright Investors Service Inc. acquired a new stake in STMicroelectronics N.V. during the first quarter valued at about $170,000. Wetherby Asset Management Inc. increased its stake in STMicroelectronics N.V. by 20.1% in the first quarter. Wetherby Asset Management Inc. now owns 15,413 shares of the semiconductor producer’s stock valued at $238,000 after buying an additional 2,584 shares during the last quarter. First Midwest Bank Trust Division increased its stake in STMicroelectronics N.V. by 45.7% in the first quarter. First Midwest Bank Trust Division now owns 39,598 shares of the semiconductor producer’s stock valued at $612,000 after buying an additional 12,424 shares during the last quarter. IFP Advisors Inc increased its stake in STMicroelectronics N.V. by 4,233.5% in the first quarter. IFP Advisors Inc now owns 10,877 shares of the semiconductor producer’s stock valued at $168,000 after buying an additional 10,626 shares during the last quarter. Finally, Financial Architects Inc acquired a new stake in STMicroelectronics N.V. during the first quarter valued at about $123,000. 5.08% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics N.V. (NYSE STM) opened at 16.62 on Friday. STMicroelectronics N.V. has a 52 week low of $7.24 and a 52 week high of $17.46. The firm’s 50-day moving average price is $15.99 and its 200 day moving average price is $15.51. The company has a market capitalization of $14.76 billion, a PE ratio of 33.99 and a beta of 0.66.

STMicroelectronics N.V. (NYSE:STM) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. STMicroelectronics N.V.’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. Equities research analysts expect that STMicroelectronics N.V. will post $0.82 earnings per share for the current fiscal year.

STMicroelectronics N.V. announced that its board has approved a share repurchase program on Thursday, June 22nd that authorizes the company to repurchase $297.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor producer to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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Several research firms recently issued reports on STM. Zacks Investment Research downgraded shares of STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised shares of STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Stifel Nicolaus downgraded shares of STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Craig Hallum reissued a “buy” rating and issued a $20.00 price target on shares of STMicroelectronics N.V. in a research report on Thursday, April 27th. Finally, Robert W. Baird lifted their price target on shares of STMicroelectronics N.V. from $15.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $18.38.

About STMicroelectronics N.V.

STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.

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Institutional Ownership by Quarter for STMicroelectronics N.V. (NYSE:STM)

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