Shariaportfolio Inc. Buys Shares of 63,418 STMicroelectronics (NYSE:STM)

Shariaportfolio Inc. bought a new stake in shares of STMicroelectronics (NYSE:STM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 63,418 shares of the semiconductor producer's stock, valued at approximately $1,584,000. STMicroelectronics comprises approximately 0.8% of Shariaportfolio Inc.'s investment portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Truvestments Capital LLC purchased a new stake in shares of STMicroelectronics in the third quarter worth approximately $25,000. Archer Investment Corp bought a new stake in shares of STMicroelectronics during the third quarter worth $30,000. GAMMA Investing LLC boosted its stake in shares of STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer's stock valued at $30,000 after purchasing an additional 531 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of STMicroelectronics in the fourth quarter worth about $31,000. Finally, TD Private Client Wealth LLC lifted its holdings in STMicroelectronics by 108.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer's stock valued at $46,000 after buying an additional 809 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on STM. Craig Hallum decreased their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Jefferies Financial Group upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. BNP Paribas started coverage on STMicroelectronics in a research note on Tuesday, December 3rd. They set a "neutral" rating and a $28.00 price target on the stock. JPMorgan Chase & Co. restated a "neutral" rating on shares of STMicroelectronics in a report on Monday, December 9th. Finally, Sanford C. Bernstein cut shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, STMicroelectronics has an average rating of "Hold" and a consensus price target of $31.26.

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STMicroelectronics Price Performance

Shares of NYSE:STM traded down $1.65 during midday trading on Thursday, reaching $24.52. 8,575,498 shares of the company's stock traded hands, compared to its average volume of 7,298,975. The company has a market cap of $22.15 billion, a P/E ratio of 14.77, a PEG ratio of 1.16 and a beta of 1.51. The company has a fifty day simple moving average of $24.78 and a two-hundred day simple moving average of $26.79. 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 has a 1 year low of $21.36 and a 1 year high of $49.05.

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