PNC Financial Services Group Inc. lessened its stake in STMicroelectronics N.V. (NYSE:STM – Free Report) by 24.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 138,344 shares of the semiconductor producer’s stock after selling 45,723 shares during the quarter. PNC Financial Services Group Inc.’s holdings in STMicroelectronics were worth $3,589,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its holdings in STMicroelectronics by 9.7% in the 4th quarter. HighTower Advisors LLC now owns 9,520 shares of the semiconductor producer’s stock worth $247,000 after acquiring an additional 844 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in STMicroelectronics by 1,555.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 90,621 shares of the semiconductor producer’s stock worth $2,351,000 after acquiring an additional 85,148 shares in the last quarter. West Tower Group LLC increased its holdings in STMicroelectronics by 25.0% in the 4th quarter. West Tower Group LLC now owns 10,000 shares of the semiconductor producer’s stock worth $259,000 after acquiring an additional 2,000 shares in the last quarter. Maxi Investments CY Ltd purchased a new stake in STMicroelectronics in the 4th quarter worth $2,335,000. Finally, MGO One Seven LLC purchased a new stake in STMicroelectronics in the 4th quarter worth $230,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.
STMicroelectronics Price Performance
Shares of NYSE STM opened at $66.99 on Tuesday. The firm has a 50-day simple moving average of $45.80 and a 200-day simple moving average of $34.28. The stock has a market capitalization of $60.17 billion, a price-to-earnings ratio of 418.70 and a beta of 1.89. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. STMicroelectronics N.V. has a 52 week low of $21.11 and a 52 week high of $68.14.
Wall Street Analyst Weigh In
Several brokerages recently commented on STM. Mizuho boosted their price target on shares of STMicroelectronics from $56.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a research report on Friday, May 15th. Robert W. Baird set a $90.00 target price on shares of STMicroelectronics in a research report on Friday, April 24th. Weiss Ratings cut shares of STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Finally, Craig Hallum upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.93.
View Our Latest Stock Analysis on STM
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.
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