Van ECK Associates Corp Boosts Stake in STMicroelectronics N.V. $STM

Van ECK Associates Corp lifted its holdings in shares of STMicroelectronics N.V. (NYSE:STM) by 11.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,387,002 shares of the semiconductor producer’s stock after purchasing an additional 955,243 shares during the quarter. Van ECK Associates Corp owned about 1.05% of STMicroelectronics worth $265,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STM. Peterson Wealth Services lifted its position in STMicroelectronics by 3,086.5% in the third quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock valued at $33,000 after buying an additional 1,142 shares during the last quarter. Rothschild Investment LLC boosted its position in shares of STMicroelectronics by 248.4% during the 2nd quarter. Rothschild Investment LLC now owns 1,303 shares of the semiconductor producer’s stock worth $40,000 after purchasing an additional 929 shares during the period. AlphaCore Capital LLC acquired a new stake in STMicroelectronics in the 2nd quarter valued at approximately $57,000. Parkside Financial Bank & Trust raised its position in STMicroelectronics by 114.3% in the second quarter. Parkside Financial Bank & Trust now owns 2,509 shares of the semiconductor producer’s stock valued at $76,000 after purchasing an additional 1,338 shares during the period. Finally, Farther Finance Advisors LLC raised its position in STMicroelectronics by 45.4% in the third quarter. Farther Finance Advisors LLC now owns 2,930 shares of the semiconductor producer’s stock valued at $83,000 after purchasing an additional 915 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $33.48 on Tuesday. The stock’s 50-day moving average is $30.45 and its two-hundred day moving average is $27.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.36 and a quick ratio of 2.43. STMicroelectronics N.V. has a 1-year low of $17.25 and a 1-year high of $35.07. The company has a market cap of $30.07 billion, a price-to-earnings ratio of 186.00 and a beta of 1.55.

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

Analysts Set New Price Targets

STM has been the subject of a number of research reports. Mizuho set a $28.00 price objective on STMicroelectronics in a research note on Friday, January 9th. Susquehanna boosted their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings lowered shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, STMicroelectronics has a consensus rating of “Hold” and an average target price of $31.93.

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.