JPMorgan Chase & Co. Purchases 1,939,088 Shares of STMicroelectronics (NYSE:STM)

JPMorgan Chase & Co. lifted its stake in shares of STMicroelectronics (NYSE:STM - Free Report) by 131.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,413,356 shares of the semiconductor producer's stock after acquiring an additional 1,939,088 shares during the period. JPMorgan Chase & Co. owned 0.38% of STMicroelectronics worth $85,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of STM. GAMMA Investing LLC raised its stake in shares of STMicroelectronics by 81.4% in the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer's stock valued at $30,000 after acquiring an additional 531 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in STMicroelectronics during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its position in STMicroelectronics by 225.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer's stock valued at $33,000 after purchasing an additional 921 shares during the last quarter. TD Private Client Wealth LLC raised its holdings 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 valued at $46,000 after buying an additional 809 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in STMicroelectronics by 197.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer's stock worth $44,000 after acquiring an additional 1,180 shares during the period. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Stock Performance

NYSE STM traded down $1.26 during trading on Tuesday, reaching $17.64. 13,489,753 shares of the company's stock were exchanged, compared to its average volume of 5,219,072. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. The stock has a market capitalization of $15.84 billion, a P/E ratio of 10.62, a PEG ratio of 1.16 and a beta of 1.56. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39. The business has a 50 day moving average price of $23.67 and a 200-day moving average price of $25.42.

STMicroelectronics (NYSE:STM - Get Free Report) last posted 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%. Sell-side analysts forecast that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on STM shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of STMicroelectronics in a research note on Monday, December 9th. Sanford C. Bernstein downgraded STMicroelectronics from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $33.00 to $26.00 in a research report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Susquehanna lowered their price target on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating for the company in a report on Friday, January 31st. Finally, Bank of America downgraded 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 given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.