Central Pacific Bank Trust Division Invests $1.40 Million in STMicroelectronics N.V. $STM

Key Points

• Central Pacific Bank Trust Division purchased 18,737 STMicroelectronics shares in the second quarter, establishing a stake valued at approximately $1.40 million. Hedge funds and institutional investors collectively own 5.05% of the company.
• Analysts maintain a generally positive view, with one Strong Buy, eight Buy, and four Hold ratings. The stock has an average “Moderate Buy” rating and a consensus price target of $71.65, despite mixed target revisions.
• STMicroelectronics exceeded quarterly expectations, reporting $0.31 in EPS versus a $0.26 consensus estimate and $3.49 billion in revenue versus $3.46 billion expected.

Central Pacific Bank Trust Division purchased a new stake in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,737 shares of the semiconductor producer's stock, valued at approximately $1,403,000.

Other hedge funds also recently added to or reduced their stakes in the company. Eastern Bank lifted its holdings in STMicroelectronics by 14.2% during the second quarter. Eastern Bank now owns 6,850 shares of the semiconductor producer's stock worth $513,000 after buying an additional 850 shares during the period. Empowered Funds LLC grew its holdings in STMicroelectronics by 5.6% in the first quarter. Empowered Funds LLC now owns 26,157 shares of the semiconductor producer's stock worth $904,000 after purchasing an additional 1,394 shares during the last quarter. Militia Capital Management LLC purchased a new position in STMicroelectronics in the first quarter worth $3,455,000. Parallel Advisors LLC increased its position in shares of STMicroelectronics by 47.5% during the first quarter. Parallel Advisors LLC now owns 7,454 shares of the semiconductor producer's stock worth $258,000 after purchasing an additional 2,399 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of STMicroelectronics by 82.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,293 shares of the semiconductor producer's stock valued at $183,000 after purchasing an additional 2,390 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Mizuho lowered their price objective on STMicroelectronics from $84.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. UBS Group set a $100.00 target price on STMicroelectronics in a research report on Wednesday, June 10th. The Goldman Sachs Group decreased their price target on STMicroelectronics from $67.50 to $60.50 and set a "neutral" rating for the company in a research note on Monday, July 27th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of STMicroelectronics in a report on Thursday, June 11th. Finally, Susquehanna boosted their price target on STMicroelectronics from $60.00 to $75.00 and gave the stock a "positive" rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $71.65.

STMicroelectronics Trading Up 3.9%

NYSE:STM opened at $54.20 on Wednesday. The company has a market capitalization of $48.68 billion, a P/E ratio of 106.28 and a beta of 1.95. 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 N.V. has a 12 month low of $21.11 and a 12 month high of $81.42. The firm has a fifty day simple moving average of $68.24 and a 200-day simple moving average of $49.74.

STMicroelectronics (NYSE:STM - Get Free Report) last released its earnings results on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.46 billion. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. On average, equities research analysts anticipate that STMicroelectronics N.V. will post 1.3 earnings per share for the current year.

STMicroelectronics Company 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.

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