Channing Global Advisors LLC Invests $497,000 in STMicroelectronics N.V. $STM

Key Points

• Channing Global Advisors initiated a new position in STMicroelectronics, buying 14,375 shares valued at about $497,000 in the first quarter.
• Several other hedge funds also boosted or opened stakes in the semiconductor maker, and institutional investors now own 5.05% of the stock.
• Wall Street sentiment is positive: analysts rate STM Moderate Buy on average, with a consensus price target of $64.39, even as the stock recently traded at $71.53.

Channing Global Advisors LLC bought a new stake in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,375 shares of the semiconductor producer's stock, valued at approximately $497,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Kestra Advisory Services LLC lifted its holdings in STMicroelectronics by 16.1% during the 1st quarter. Kestra Advisory Services LLC now owns 22,515 shares of the semiconductor producer's stock valued at $778,000 after buying an additional 3,125 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in STMicroelectronics by 7.4% in the 1st quarter. Frank Rimerman Advisors LLC now owns 9,826 shares of the semiconductor producer's stock worth $339,000 after acquiring an additional 677 shares in the last quarter. Abel Hall LLC bought a new position in STMicroelectronics in the 1st quarter worth about $232,000. DGS Capital Management LLC purchased a new position in shares of STMicroelectronics during the first quarter worth approximately $248,000. Finally, QRG Capital Management Inc. increased its position in shares of STMicroelectronics by 33.4% during the first quarter. QRG Capital Management Inc. now owns 14,323 shares of the semiconductor producer's stock worth $495,000 after acquiring an additional 3,589 shares during the period. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STM has been the subject of a number of research reports. Robert W. Baird set a $90.00 price target on STMicroelectronics in a report on Friday, April 24th. UBS Group set a $100.00 target price on STMicroelectronics in a research report on Wednesday, June 10th. Zacks Research upgraded STMicroelectronics from a "hold" rating to a "strong-buy" rating in a report on Friday, June 26th. Morgan Stanley reissued an "overweight" rating on shares of STMicroelectronics in a research report on Tuesday, June 30th. Finally, Craig Hallum upgraded STMicroelectronics from a "hold" rating to a "buy" rating and set a $58.00 price target on the stock in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.39.

STMicroelectronics Stock Performance

Shares of STM stock opened at $71.53 on Friday. The firm has a market cap of $64.25 billion, a price-to-earnings ratio of 447.10 and a beta of 1.93. STMicroelectronics N.V. has a 52-week low of $21.11 and a 52-week high of $81.42. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The company's 50 day moving average is $69.01 and its 200 day moving average is $45.69.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its 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 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 fiscal 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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