Ninepoint Partners LP Buys Shares of 19,434 STMicroelectronics N.V. $STM

Ninepoint Partners LP bought a new stake in STMicroelectronics N.V. (NYSE:STM) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 19,434 shares of the semiconductor producer’s stock, valued at approximately $1,455,000.

Several other hedge funds have also recently modified their holdings of the stock. Portus Wealth Advisors LLC purchased a new position in STMicroelectronics in the 1st quarter valued at $32,000. CIBC Private Wealth Group LLC raised its position in STMicroelectronics by 3,746.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after buying an additional 974 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of STMicroelectronics in the 1st quarter worth $45,000. Advisory Services Network LLC acquired a new stake in shares of STMicroelectronics in the 3rd quarter worth $52,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of STMicroelectronics by 350.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,680 shares of the semiconductor producer’s stock valued at $70,000 after acquiring an additional 2,085 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STM has been the subject of several analyst reports. Citigroup reissued a “buy” rating on shares of STMicroelectronics in a report on Sunday, April 26th. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Monday, July 13th. Wall Street Zen upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Susquehanna increased their target price on STMicroelectronics from $60.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Finally, Bank of America raised STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, June 10th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.65.

STMicroelectronics Stock Performance

NYSE:STM opened at $49.74 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $44.67 billion, a P/E ratio of 97.53 and a beta of 1.95. The firm has a 50-day moving average price of $63.47 and a two-hundred day moving average price of $51.86. STMicroelectronics N.V. has a twelve month low of $21.11 and a twelve month high of $81.42.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.46 billion. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. As a group, research analysts expect that STMicroelectronics N.V. will post 1.3 earnings per share for the current fiscal year.

STMicroelectronics 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.