Northern Trust Corp Has $5.24 Million Position in STMicroelectronics N.V. (STM)
Northern Trust Corp boosted its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 364,676 shares of the semiconductor producer’s stock after acquiring an additional 8,347 shares during the quarter. Northern Trust Corp’s holdings in STMicroelectronics N.V. were worth $5,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Nicholas Investment Partners LP purchased a new stake in STMicroelectronics N.V. during the 2nd quarter valued at about $2,444,000. New York State Common Retirement Fund lifted its holdings in STMicroelectronics N.V. by 8.3% in the 2nd quarter. New York State Common Retirement Fund now owns 332,547 shares of the semiconductor producer’s stock worth $4,782,000 after buying an additional 25,421 shares during the period. PNC Financial Services Group Inc. lifted its holdings in STMicroelectronics N.V. by 22.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,573 shares of the semiconductor producer’s stock worth $138,000 after buying an additional 1,765 shares during the period. Stevens Capital Management LP purchased a new stake in STMicroelectronics N.V. in the 2nd quarter worth approximately $163,000. Finally, Ameriprise Financial Inc. lifted its holdings in STMicroelectronics N.V. by 14.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 373,054 shares of the semiconductor producer’s stock worth $5,366,000 after buying an additional 46,170 shares during the period. Institutional investors own 5.31% of the company’s stock.
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Shares of STMicroelectronics N.V. (NYSE STM) opened at $24.01 on Friday. STMicroelectronics N.V. has a fifty-two week low of $9.34 and a fifty-two week high of $24.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.29 and a quick ratio of 1.73. The firm has a market capitalization of $22,130.00, a P/E ratio of 32.79, a price-to-earnings-growth ratio of 5.47 and a beta of 0.81.
STMicroelectronics N.V. (NYSE:STM) last released its earnings results on Thursday, October 26th. The semiconductor producer reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.10 billion. STMicroelectronics N.V. had a return on equity of 13.47% and a net margin of 7.84%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. sell-side analysts forecast that STMicroelectronics N.V. will post 0.88 earnings per share for the current year.
Several research firms have weighed in on STM. Zacks Investment Research upgraded STMicroelectronics N.V. from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a report on Tuesday, October 31st. Craig Hallum increased their price objective on STMicroelectronics N.V. from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, BidaskClub upgraded STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. STMicroelectronics N.V. presently has a consensus rating of “Buy” and an average price target of $21.88.
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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