112,662 Shares in STMicroelectronics N.V. $STM Bought by Revere Asset Management Inc

Revere Asset Management Inc bought a new stake in STMicroelectronics N.V. (NYSE:STM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 112,662 shares of the semiconductor producer’s stock, valued at approximately $8,437,000. STMicroelectronics comprises about 3.2% of Revere Asset Management Inc’s portfolio, making the stock its 5th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC grew its stake in STMicroelectronics by 0.5% during the second quarter. Legacy Wealth Asset Management LLC now owns 34,613 shares of the semiconductor producer’s stock worth $2,592,000 after buying an additional 167 shares during the period. Midwest Trust Co lifted its holdings in shares of STMicroelectronics by 0.8% during the 1st quarter. Midwest Trust Co now owns 54,447 shares of the semiconductor producer’s stock valued at $1,881,000 after acquiring an additional 406 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of STMicroelectronics during the 2nd quarter valued at $34,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in STMicroelectronics by 5.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,062 shares of the semiconductor producer’s stock worth $348,000 after purchasing an additional 479 shares during the period. Finally, Inspire Investing LLC boosted its position in STMicroelectronics by 5.0% during the 1st quarter. Inspire Investing LLC now owns 10,261 shares of the semiconductor producer’s stock worth $355,000 after purchasing an additional 488 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

STM has been the topic of several research reports. TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a research report on Monday, July 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of STMicroelectronics in a research report on Tuesday, June 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of STMicroelectronics in a research note on Friday, August 21st. Bank of America upgraded STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, June 10th. Finally, Mizuho reduced their price target on STMicroelectronics from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.17.

STMicroelectronics Stock Down 7.2%

STMicroelectronics stock traded down $3.71 during midday trading on Monday, hitting $47.80. 9,719,001 shares of the stock were exchanged, compared to its average volume of 10,226,394. STMicroelectronics N.V. has a 1 year low of $21.11 and a 1 year high of $81.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.78 and a quick ratio of 2.08. The firm has a market cap of $42.93 billion, a P/E ratio of 93.73 and a beta of 1.93. The company has a 50 day moving average price of $55.94 and a two-hundred day moving average price of $53.95.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Friday, July 24th. The semiconductor producer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.46 billion. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. On average, sell-side analysts predict that STMicroelectronics N.V. will post 1.3 earnings per share for the current fiscal year.

About STMicroelectronics

STMicroelectronics N.V. (NYSE: STM) is a global semiconductor company that designs, develops, manufactures and markets a broad range of integrated circuits and electronic components. Its products are used in automotive systems, industrial equipment, personal electronics, communications infrastructure and other embedded applications.

The company’s portfolio includes microcontrollers and microprocessors, analog and mixed-signal devices, power semiconductors, sensors, MEMS devices, connectivity products and automotive semiconductors.