Phoenix Financial Ltd. Makes New Investment in STMicroelectronics N.V. (NYSE:STM)

Key Points

• Phoenix Financial Ltd. has acquired 35,891 shares of STMicroelectronics N.V., valued at approximately $794,000, during the 1st quarter of 2023 as reported to the SEC.
• Several institutional investors have also entered or increased their positions in STM, indicating a growing interest in the company amidst varied analyst ratings, with the overall consensus rating currently at "Hold."
• STMicroelectronics reported earnings that fell short of expectations, with a EPS of $0.06 compared to the expected $0.10, while revenue exceeded projections at $2.77 billion.

Phoenix Financial Ltd. acquired a new position in STMicroelectronics N.V. (NYSE:STM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,891 shares of the semiconductor producer's stock, valued at approximately $794,000.

A number of other hedge funds also recently bought and sold shares of STM. Two Sigma Investments LP raised its position in STMicroelectronics by 19.4% in the 4th quarter. Two Sigma Investments LP now owns 4,475,384 shares of the semiconductor producer's stock worth $111,750,000 after buying an additional 725,684 shares during the last quarter. JPMorgan Chase & Co. lifted its position in STMicroelectronics by 131.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock valued at $85,232,000 after purchasing an additional 1,939,088 shares during the period. Voloridge Investment Management LLC lifted its position in STMicroelectronics by 39.2% during the fourth quarter. Voloridge Investment Management LLC now owns 3,330,616 shares of the semiconductor producer's stock valued at $83,165,000 after purchasing an additional 938,097 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in STMicroelectronics by 576.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer's stock valued at $47,962,000 after purchasing an additional 1,636,707 shares during the period. Finally, Two Sigma Advisers LP lifted its position in STMicroelectronics by 35.1% during the fourth quarter. Two Sigma Advisers LP now owns 1,886,700 shares of the semiconductor producer's stock valued at $47,111,000 after purchasing an additional 490,000 shares during the period. Institutional investors own 5.05% of the company's stock.

STMicroelectronics Stock Performance

NYSE STM traded down $0.21 during trading hours on Wednesday, reaching $26.34. The stock had a trading volume of 3,104,928 shares, compared to its average volume of 7,609,495. The stock has a fifty day moving average of $29.24 and a 200 day moving average of $25.53. The stock has a market cap of $23.65 billion, a P/E ratio of 38.21, a price-to-earnings-growth ratio of 3.86 and a beta of 1.60. STMicroelectronics N.V. has a 52-week low of $17.25 and a 52-week high of $33.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 2.74.

STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The semiconductor producer reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%. The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.71 billion. Sell-side analysts predict that STMicroelectronics N.V. will post 0.85 earnings per share for the current year.

STMicroelectronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, March 24th. STMicroelectronics's payout ratio is 44.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STM. Oddo Bhf raised shares of STMicroelectronics to an "outperform" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of STMicroelectronics in a research report on Friday. Dbs Bank downgraded shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. The Goldman Sachs Group set a $26.50 price objective on shares of STMicroelectronics and gave the company a "neutral" rating in a report on Friday. Finally, Baird R W raised shares of STMicroelectronics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.21.

STMicroelectronics Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.