Bank of America Corp DE Has $31.74 Million Holdings in STMicroelectronics N.V. $STM

Key Points

• Bank of America reduced its STMicroelectronics stake by 34.3% in the first quarter, selling 479,419 shares and retaining 918,591 shares valued at approximately $31.74 million.
• Institutional ownership remains limited at 5.05%, although several funds—including M&T Bank, Evergreen Capital Management, and Cetera Investment Advisers—substantially increased their positions.
• Analysts maintain a generally positive outlook, with STMicroelectronics receiving a “Moderate Buy” consensus rating and a $71.65 average price target. The company recently beat quarterly EPS and revenue estimates, reporting $0.31 EPS and $3.49 billion in revenue.

Bank of America Corp DE cut its holdings in STMicroelectronics N.V. (NYSE:STM - Free Report) by 34.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 918,591 shares of the semiconductor producer's stock after selling 479,419 shares during the period. Bank of America Corp DE owned approximately 0.10% of STMicroelectronics worth $31,737,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of STM. Maxi Investments CY Ltd bought a new stake in STMicroelectronics during the 4th quarter valued at approximately $2,335,000. M&T Bank Corp increased its position in STMicroelectronics by 243.1% in the 4th quarter. M&T Bank Corp now owns 33,299 shares of the semiconductor producer's stock worth $864,000 after buying an additional 23,593 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of STMicroelectronics by 65.3% during the first quarter. PNC Financial Services Group Inc. now owns 228,674 shares of the semiconductor producer's stock worth $7,901,000 after buying an additional 90,330 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of STMicroelectronics by 305.1% during the fourth quarter. Evergreen Capital Management LLC now owns 66,477 shares of the semiconductor producer's stock worth $1,724,000 after buying an additional 50,065 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of STMicroelectronics by 98.1% in the first quarter. Cetera Investment Advisers now owns 72,354 shares of the semiconductor producer's stock valued at $2,500,000 after acquiring an additional 35,829 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STM. Citigroup reaffirmed a "buy" rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Bank of America upgraded shares of STMicroelectronics from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Wednesday, June 10th. Weiss Ratings upgraded shares of STMicroelectronics from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, May 26th. Wall Street Zen raised shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, Craig Hallum reiterated a "buy" rating and issued a $70.00 target price on shares of STMicroelectronics in a research note on Thursday, July 23rd. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, STMicroelectronics presently has an average rating of "Moderate Buy" and a consensus target price of $71.65.

STMicroelectronics Stock Up 0.7%

NYSE STM opened at $54.29 on Friday. STMicroelectronics N.V. has a 1-year low of $21.11 and a 1-year high of $81.42. The company has a market capitalization of $48.76 billion, a price-to-earnings ratio of 106.45 and a beta of 1.95. The stock's 50 day moving average is $65.25 and its two-hundred day moving average is $51.05. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its earnings results on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. The business had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.46 billion. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. Equities analysts forecast that STMicroelectronics N.V. will post 1.3 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding STM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STMicroelectronics N.V. (NYSE:STM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source