Beaconlight Capital LLC lessened its stake in STMicroelectronics N.V. (NYSE:STM - Free Report) by 89.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,332 shares of the semiconductor producer's stock after selling 343,145 shares during the quarter. STMicroelectronics makes up 1.1% of Beaconlight Capital LLC's holdings, making the stock its 23rd biggest position. Beaconlight Capital LLC's holdings in STMicroelectronics were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC raised its position in STMicroelectronics by 3,746.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer's stock worth $26,000 after acquiring an additional 974 shares in the last quarter. Portus Wealth Advisors LLC bought a new position in shares of STMicroelectronics in the 1st quarter valued at about $32,000. Public Employees Retirement System of Ohio bought a new position in shares of STMicroelectronics in the 1st quarter valued at about $45,000. Advisory Services Network LLC acquired a new position in shares of STMicroelectronics during the 3rd quarter worth about $52,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of STMicroelectronics by 350.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 2,680 shares of the semiconductor producer's stock worth $70,000 after purchasing an additional 2,085 shares during the last quarter. 5.05% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
STM has been the subject of several recent analyst reports. 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. Morgan Stanley reissued an "overweight" rating on shares of STMicroelectronics in a research report on Tuesday, June 30th. The Goldman Sachs Group dropped their price objective on STMicroelectronics from $67.50 to $60.50 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Susquehanna raised their price objective on STMicroelectronics from $60.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 21st. Finally, TD Cowen reiterated a "hold" rating on shares of STMicroelectronics in a research note on Monday, July 13th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $71.65.
Read Our Latest Research Report on STM
STMicroelectronics Stock Performance
Shares of STM stock opened at $49.46 on Monday. The company has a market capitalization of $44.42 billion, a price-to-earnings ratio of 96.98 and a beta of 1.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 2.78. The company has a 50-day simple moving average of $60.25 and a 200 day simple moving average of $52.72. STMicroelectronics N.V. has a 52 week low of $21.11 and a 52 week high of $81.42.
STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.46 billion. On average, sell-side analysts predict that STMicroelectronics N.V. will post 1.3 earnings per share for the current year.
About STMicroelectronics
(
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.
See Also
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