38,888 Shares in STMicroelectronics (NYSE:STM) Acquired by Waterfront Wealth Inc.

Waterfront Wealth Inc. bought a new stake in shares of STMicroelectronics (NYSE:STM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 38,888 shares of the semiconductor producer's stock, valued at approximately $971,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp raised its position in STMicroelectronics by 26.5% during the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer's stock worth $228,655,000 after acquiring an additional 1,719,257 shares during the period. Two Sigma Advisers LP raised its position in shares of STMicroelectronics by 674.2% during the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer's stock worth $41,524,000 after purchasing an additional 1,216,300 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in STMicroelectronics in the 3rd quarter valued at about $7,642,000. International Assets Investment Management LLC acquired a new stake in STMicroelectronics in the 3rd quarter worth about $4,158,000. Finally, Point72 Asset Management L.P. acquired a new stake in STMicroelectronics in the 3rd quarter worth about $1,924,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

STMicroelectronics Trading Down 1.6 %

Shares of NYSE STM traded down $0.44 during midday trading on Tuesday, reaching $26.98. 3,233,224 shares of the stock were exchanged, compared to its average volume of 7,191,264. The stock has a market capitalization of $24.37 billion, a P/E ratio of 16.26, a PEG ratio of 1.16 and a beta of 1.51. 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 $24.73 and a 200 day simple moving average of $26.81. STMicroelectronics has a twelve month low of $21.36 and a twelve month high of $49.05.

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STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, equities analysts expect that STMicroelectronics will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. BNP Paribas started coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They set a "neutral" rating and a $28.00 price target for the company. TD Cowen lowered shares of STMicroelectronics from a "buy" rating to a "hold" rating and dropped their target price for the stock from $32.00 to $25.00 in a report on Monday, January 13th. Bank of America downgraded shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Sanford C. Bernstein lowered shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Finally, Morgan Stanley upgraded shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, STMicroelectronics presently has a consensus rating of "Hold" and a consensus price target of $31.26.

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.