STMicroelectronics (NYSE:STM) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC decreased its position in STMicroelectronics (NYSE:STM) by 59.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,623 shares of the semiconductor producer’s stock after selling 3,781 shares during the period. Truvestments Capital LLC’s holdings in STMicroelectronics were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in STM. Capital International Investors lifted its holdings in shares of STMicroelectronics by 2.4% in the 1st quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock worth $135,467,000 after purchasing an additional 74,519 shares during the last quarter. Delta Global Management LP lifted its holdings in shares of STMicroelectronics by 31.3% in the 1st quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer’s stock worth $45,300,000 after purchasing an additional 249,905 shares during the last quarter. Titan Global Capital Management USA LLC lifted its holdings in shares of STMicroelectronics by 75.0% in the 1st quarter. Titan Global Capital Management USA LLC now owns 24,602 shares of the semiconductor producer’s stock worth $1,064,000 after purchasing an additional 10,540 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of STMicroelectronics by 10.6% in the 1st quarter. Lake Street Advisors Group LLC now owns 8,163 shares of the semiconductor producer’s stock worth $353,000 after purchasing an additional 782 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of STMicroelectronics by 66.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,244 shares of the semiconductor producer’s stock worth $573,000 after purchasing an additional 5,266 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Price Performance

Shares of STM traded up $0.52 during midday trading on Friday, reaching $33.99. The stock had a trading volume of 5,584,181 shares, compared to its average volume of 3,633,410. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 2.58. The company has a market capitalization of $30.71 billion, a P/E ratio of 8.72, a P/E/G ratio of 3.19 and a beta of 1.59. The firm’s 50 day moving average price is $41.52 and its 200-day moving average price is $42.82. STMicroelectronics has a 52 week low of $33.16 and a 52 week high of $55.85.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.55 billion. STMicroelectronics had a return on equity of 18.35% and a net margin of 19.68%. The company’s quarterly revenue was down 25.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 EPS. On average, analysts forecast that STMicroelectronics will post 2.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on STM shares. Craig Hallum cut their price target on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna reaffirmed a “positive” rating and set a $55.00 target price on shares of STMicroelectronics in a research note on Monday, April 8th. William Blair reaffirmed a “market perform” rating on shares of STMicroelectronics in a research note on Friday, April 26th. TD Cowen cut their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.56.

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.