Modera Wealth Management LLC Cuts Position in STMicroelectronics N.V. $STM

Modera Wealth Management LLC trimmed its holdings in shares of STMicroelectronics N.V. (NYSE:STM) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,489 shares of the semiconductor producer’s stock after selling 11,301 shares during the period. Modera Wealth Management LLC’s holdings in STMicroelectronics were worth $4,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Abound Wealth Management acquired a new stake in STMicroelectronics in the fourth quarter valued at approximately $26,000. CIBC Private Wealth Group LLC boosted its position in STMicroelectronics by 3,746.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock valued at $26,000 after buying an additional 974 shares during the last quarter. Portus Wealth Advisors LLC acquired a new stake in shares of STMicroelectronics during the first quarter valued at about $32,000. Advisory Services Network LLC acquired a new stake in shares of STMicroelectronics during the third quarter valued at about $52,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of STMicroelectronics by 350.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,680 shares of the semiconductor producer’s stock worth $70,000 after acquiring an additional 2,085 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $62.20 on Friday. The company has a market cap of $55.87 billion, a PE ratio of 388.81 and a beta of 1.93. STMicroelectronics N.V. has a fifty-two week low of $21.11 and a fifty-two week high of $81.42. The firm has a 50-day simple moving average of $70.30 and a 200 day simple moving average of $47.28. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last issued its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The company had revenue of $3.10 billion during the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%. On average, sell-side analysts anticipate that STMicroelectronics N.V. will post 1.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STM. UBS Group set a $100.00 target price on STMicroelectronics in a research report on Wednesday, June 10th. Barclays upgraded shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research note on Monday, June 29th. Zacks Research upgraded STMicroelectronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Craig Hallum raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, April 23rd. Finally, Morgan Stanley restated an “overweight” rating on shares of STMicroelectronics in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, STMicroelectronics currently has an average rating of “Moderate Buy” and a consensus price target of $64.39.

STMicroelectronics Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST’s offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.