PNC Financial Services Group Inc. Boosts Stake in STMicroelectronics N.V. $STM

PNC Financial Services Group Inc. grew its position in shares of STMicroelectronics N.V. (NYSE:STM) by 878.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 184,067 shares of the semiconductor producer’s stock after buying an additional 165,264 shares during the quarter. PNC Financial Services Group Inc.’s holdings in STMicroelectronics were worth $5,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of STM. Arrowstreet Capital Limited Partnership bought a new stake in STMicroelectronics during the second quarter worth $58,593,000. Bank of America Corp DE increased its position in shares of STMicroelectronics by 43.9% during the 2nd quarter. Bank of America Corp DE now owns 4,348,569 shares of the semiconductor producer’s stock valued at $132,240,000 after purchasing an additional 1,326,020 shares during the last quarter. Rafferty Asset Management LLC increased its position in shares of STMicroelectronics by 50.7% during the 2nd quarter. Rafferty Asset Management LLC now owns 3,020,721 shares of the semiconductor producer’s stock valued at $91,860,000 after purchasing an additional 1,016,035 shares during the last quarter. Shellback Capital LP bought a new stake in shares of STMicroelectronics during the 2nd quarter worth $26,457,000. Finally, Analog Century Management LP boosted its holdings in shares of STMicroelectronics by 37.3% in the 2nd quarter. Analog Century Management LP now owns 2,182,403 shares of the semiconductor producer’s stock worth $66,367,000 after buying an additional 592,599 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on STM shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of STMicroelectronics in a research report on Wednesday, January 21st. TD Cowen restated a “hold” rating on shares of STMicroelectronics in a research note on Friday, October 24th. Mizuho set a $28.00 price objective on STMicroelectronics in a research note on Friday, January 9th. Finally, Robert W. Baird set a $45.00 price objective on STMicroelectronics in a report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.93.

STMicroelectronics Stock Performance

NYSE STM opened at $33.64 on Friday. The firm has a market cap of $30.22 billion, a P/E ratio of 186.92 and a beta of 1.59. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $28.83 and its 200-day moving average is $27.01. STMicroelectronics N.V. has a 12-month low of $17.25 and a 12-month high of $35.07.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, January 29th. The semiconductor producer reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). STMicroelectronics had a net margin of 1.41% and a return on equity of 2.70%. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Sell-side analysts predict that STMicroelectronics N.V. will post 0.85 earnings per share for the current year.

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.