Barometer Capital Management Inc. purchased a new stake in STMicroelectronics N.V. (NYSE:STM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 50,400 shares of the semiconductor producer's stock, valued at approximately $1,741,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi bought a new position in STMicroelectronics during the first quarter worth about $947,000. AQR Capital Management LLC boosted its holdings in STMicroelectronics by 182.8% in the 1st quarter. AQR Capital Management LLC now owns 32,094 shares of the semiconductor producer's stock valued at $705,000 after purchasing an additional 20,745 shares during the period. Legal & General Group Plc acquired a new position in shares of STMicroelectronics during the 2nd quarter worth approximately $119,000. M&T Bank Corp acquired a new position in shares of STMicroelectronics during the 2nd quarter worth approximately $303,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of STMicroelectronics by 79.1% during the second quarter. EverSource Wealth Advisors LLC now owns 4,883 shares of the semiconductor producer's stock worth $148,000 after purchasing an additional 2,156 shares during the period. Institutional investors and hedge funds own 5.05% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on STM. Robert W. Baird set a $90.00 price target on STMicroelectronics in a research note on Friday, April 24th. Mizuho lifted their price objective on STMicroelectronics from $68.00 to $84.00 and gave the company an "outperform" rating in a report on Wednesday, June 3rd. UBS Group set a $100.00 target price on STMicroelectronics in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of STMicroelectronics in a report on Thursday, June 11th. Finally, Citigroup reaffirmed a "buy" rating on shares of STMicroelectronics in a research note on Sunday, April 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.28.
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STMicroelectronics Stock Up 6.0%
Shares of NYSE STM opened at $65.51 on Wednesday. The company has a current ratio of 3.31, a quick ratio of 2.34 and a debt-to-equity ratio of 0.12. The company has a market cap of $58.84 billion, a price-to-earnings ratio of 409.48 and a beta of 1.93. STMicroelectronics N.V. has a 12 month low of $21.11 and a 12 month high of $81.42. The stock has a 50-day moving average price of $70.49 and a two-hundred day moving average price of $47.96.
STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share for the quarter. The company had revenue of $3.10 billion for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. As a group, analysts forecast that STMicroelectronics N.V. will post 1.25 earnings per share for the current fiscal year.
STMicroelectronics Profile
(
Free Report)
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.
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