The Manufacturers Life Insurance Company Invests $19.13 Million in STMicroelectronics N.V. $STM

Key Points

• The Manufacturers Life Insurance Company initiated a $19.13 million stake in STMicroelectronics, buying 553,742 shares and owning approximately 0.06% of the semiconductor maker. Institutional investors and hedge funds collectively own 5.05% of the company.
• STMicroelectronics exceeded quarterly expectations, reporting $0.31 in earnings per share versus the $0.26 consensus estimate and revenue of $3.49 billion versus $3.46 billion expected.
• Wall Street maintains a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $71.65; however, shares opened at $52.27, while the stock’s valuation remains elevated at a P/E ratio of 102.50.

The Manufacturers Life Insurance Company bought a new position in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 553,742 shares of the semiconductor producer's stock, valued at approximately $19,132,000. The Manufacturers Life Insurance Company owned 0.06% of STMicroelectronics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantinno Capital Management LP boosted its holdings in STMicroelectronics by 29.9% in the 1st quarter. Quantinno Capital Management LP now owns 277,370 shares of the semiconductor producer's stock valued at $9,583,000 after purchasing an additional 63,786 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of STMicroelectronics during the first quarter worth approximately $2,600,000. Waverly Advisors LLC bought a new position in shares of STMicroelectronics during the first quarter worth approximately $272,000. Bridgewater Advisors Inc. acquired a new stake in shares of STMicroelectronics in the first quarter valued at approximately $185,000. Finally, Beaconlight Capital LLC acquired a new stake in shares of STMicroelectronics in the first quarter valued at approximately $13,284,000. Institutional investors and hedge funds own 5.05% of the company's stock.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $52.27 on Friday. STMicroelectronics N.V. has a one year low of $21.11 and a one year high of $81.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.78 and a quick ratio of 2.08. The company has a market cap of $46.95 billion, a price-to-earnings ratio of 102.50 and a beta of 1.93. The firm has a 50 day simple moving average of $68.87 and a 200 day simple moving average of $49.24.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. The firm had revenue of $3.49 billion for the quarter, compared to analysts' expectations of $3.46 billion. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. Research analysts predict that STMicroelectronics N.V. will post 1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on STM shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of STMicroelectronics in a research report on Thursday, June 11th. UBS Group set a $100.00 target price on STMicroelectronics in a research report on Wednesday, June 10th. Robert W. Baird set a $90.00 target price on STMicroelectronics in a report on Friday, April 24th. TD Cowen restated a "hold" rating on shares of STMicroelectronics in a research report on Monday, July 13th. Finally, Craig Hallum reaffirmed a "buy" rating and issued a $70.00 price target on shares of STMicroelectronics in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.65.

About STMicroelectronics

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.

Want to see what other hedge funds are holding STM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STMicroelectronics N.V. (NYSE:STM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.