Oppenheimer Asset Management Inc. Takes $260,000 Position in STMicroelectronics (NYSE:STM)

Oppenheimer Asset Management Inc. acquired a new position in STMicroelectronics (NYSE:STM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,395 shares of the semiconductor producer's stock, valued at approximately $260,000.

A number of other hedge funds have also recently made changes to their positions in STM. Truvestments Capital LLC acquired a new stake in shares of STMicroelectronics during the third quarter worth about $25,000. Archer Investment Corp acquired a new stake in STMicroelectronics during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC lifted its holdings in STMicroelectronics by 81.4% during the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer's stock worth $30,000 after buying an additional 531 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in STMicroelectronics in the 4th quarter valued at approximately $31,000. Finally, TD Private Client Wealth LLC grew its stake in shares of STMicroelectronics by 108.3% in the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer's stock worth $46,000 after acquiring an additional 809 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STM. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of STMicroelectronics in a report on Monday, December 9th. Bank of America cut STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Susquehanna cut their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a research note on Friday, January 31st. Jefferies Financial Group upgraded shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Finally, BNP Paribas initiated coverage on shares of STMicroelectronics in a research report on Tuesday, December 3rd. They issued a "neutral" rating and a $28.00 price objective on the stock. One research 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's stock. Based on data from MarketBeat.com, STMicroelectronics has an average rating of "Hold" and an average target price of $31.26.

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STMicroelectronics Stock Performance

NYSE STM traded down $1.51 during trading hours on Monday, hitting $25.01. The company had a trading volume of 8,709,474 shares, compared to its average volume of 7,564,133. The business has a 50 day moving average of $24.75 and a 200-day moving average of $26.50. The company has a market cap of $22.59 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. STMicroelectronics has a 1-year low of $21.36 and a 1-year high of $48.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 research analysts expect that STMicroelectronics will post 0.85 EPS for the current year.

About STMicroelectronics

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.