Shares of STMicroelectronics N.V. (NYSE:STM – Get Free Report) fell 1.1% during mid-day trading on Wednesday . The company traded as low as $69.57 and last traded at $71.6480. Approximately 7,205,416 shares changed hands during trading, a decline of 30% from the average daily volume of 10,357,478 shares. The stock had previously closed at $72.43.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on STM shares. Morgan Stanley reissued an “overweight” rating on shares of STMicroelectronics in a research report on Thursday, May 28th. UBS Group set a $100.00 price target on STMicroelectronics in a research report on Wednesday, June 10th. Bank of America raised shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Wednesday, June 10th. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a report on Sunday, April 26th. Finally, Robert W. Baird set a $90.00 price objective on shares of STMicroelectronics in a research report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.39.
Read Our Latest Stock Report on STMicroelectronics
STMicroelectronics Stock Down 4.7%
STMicroelectronics (NYSE:STM – Get Free Report) last released its earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) for the quarter. STMicroelectronics had a return on equity of 3.01% and a net margin of 1.19%.The company had revenue of $3.10 billion for the quarter. As a group, research analysts forecast that STMicroelectronics N.V. will post 1.17 earnings per share for the current fiscal year.
Institutional Investors Weigh In On STMicroelectronics
Several hedge funds have recently added to or reduced their stakes in STM. Midwest Trust Co increased its position in STMicroelectronics by 0.8% in the 1st quarter. Midwest Trust Co now owns 54,447 shares of the semiconductor producer’s stock valued at $1,881,000 after acquiring an additional 406 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of STMicroelectronics by 5.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,062 shares of the semiconductor producer’s stock worth $348,000 after purchasing an additional 479 shares during the period. Inspire Investing LLC lifted its holdings in shares of STMicroelectronics by 5.0% during the first quarter. Inspire Investing LLC now owns 10,261 shares of the semiconductor producer’s stock worth $355,000 after purchasing an additional 488 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of STMicroelectronics by 13.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,405 shares of the semiconductor producer’s stock worth $115,000 after purchasing an additional 509 shares during the last quarter. Finally, Earnest Partners LLC grew its stake in shares of STMicroelectronics by 3.2% in the fourth quarter. Earnest Partners LLC now owns 17,282 shares of the semiconductor producer’s stock worth $448,000 after purchasing an additional 534 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.
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.
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