Raymond James Financial Inc. Invests $1.74 Million in STMicroelectronics (NYSE:STM)

Raymond James Financial Inc. bought a new stake in shares of STMicroelectronics (NYSE:STM - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 69,596 shares of the semiconductor producer's stock, valued at approximately $1,738,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Two Sigma Advisers LP lifted its stake in shares of STMicroelectronics by 674.2% during the third quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer's stock valued at $41,524,000 after buying an additional 1,216,300 shares during the period. Point72 Asset Management L.P. acquired a new position in STMicroelectronics in the third quarter valued at $1,924,000. Shariaportfolio Inc. acquired a new stake in STMicroelectronics in the 4th quarter worth about $1,584,000. ABC Arbitrage SA acquired a new position in shares of STMicroelectronics during the 4th quarter valued at about $1,543,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of STMicroelectronics in the fourth quarter worth approximately $1,365,000. Hedge funds and other institutional investors own 5.05% of the company's stock.

STMicroelectronics Stock Up 0.6 %

NYSE:STM traded up $0.14 on Wednesday, reaching $21.92. The stock had a trading volume of 7,980,313 shares, compared to its average volume of 5,038,597. The company has a 50-day moving average of $24.41 and a 200 day moving average of $25.79. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The stock has a market cap of $19.69 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. STMicroelectronics has a 12-month low of $21.11 and a 12-month high of $45.39.

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STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 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%. On average, research analysts predict that STMicroelectronics will post 0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STM. Sanford C. Bernstein lowered STMicroelectronics from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of STMicroelectronics in a research report on Monday, December 9th. 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 for the company. Finally, Bank of America lowered shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, STMicroelectronics presently has a consensus rating of "Hold" and a consensus target price of $31.26.

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.