Miller Global Investments LLC cut its stake in STMicroelectronics N.V. (NYSE:STM – Free Report) by 81.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,065 shares of the semiconductor producer’s stock after selling 22,982 shares during the period. Miller Global Investments LLC’s holdings in STMicroelectronics were worth $379,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of STM. Midwest Trust Co boosted its stake 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 buying an additional 406 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in 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 acquiring an additional 479 shares in the last quarter. Inspire Investing LLC raised its stake in 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 acquiring an additional 488 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of STMicroelectronics by 13.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,405 shares of the semiconductor producer’s stock valued at $115,000 after acquiring an additional 509 shares during the period. Finally, Earnest Partners LLC boosted its stake in shares of STMicroelectronics by 3.2% in the 4th quarter. Earnest Partners LLC now owns 17,282 shares of the semiconductor producer’s stock valued at $448,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.
STMicroelectronics Stock Performance
STMicroelectronics stock opened at $52.22 on Tuesday. The stock has a 50-day simple moving average of $68.57 and a 200 day simple moving average of $49.56. The stock has a market capitalization of $46.90 billion, a price-to-earnings ratio of 102.39 and a beta of 1.95. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.16. STMicroelectronics N.V. has a 12-month low of $21.11 and a 12-month high of $81.42.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Citigroup reissued a “buy” rating on shares of STMicroelectronics in a report on Sunday, April 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research report on Thursday, June 11th. UBS Group set a $100.00 price objective on shares of STMicroelectronics in a report on Wednesday, June 10th. Finally, Bank of America upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.65.
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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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