Engineers Gate Manager LP acquired a new stake in STMicroelectronics N.V. (NYSE:STM – Free Report) in the 2nd quarter, Holdings Channel reports. The firm acquired 98,900 shares of the semiconductor producer’s stock, valued at approximately $7,407,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Militia Capital Management LLC bought a new stake in STMicroelectronics in the first quarter valued at $3,455,000. Situational Awareness LP acquired a new stake in shares of STMicroelectronics in the 2nd quarter valued at about $584,344,000. PNC Financial Services Group Inc. increased its position in STMicroelectronics by 65.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 228,674 shares of the semiconductor producer’s stock valued at $7,901,000 after buying an additional 90,330 shares in the last quarter. Cetera Investment Advisers raised its stake in STMicroelectronics by 98.1% during the 1st quarter. Cetera Investment Advisers now owns 72,354 shares of the semiconductor producer’s stock worth $2,500,000 after buying an additional 35,829 shares during the period. Finally, Channing Global Advisors LLC acquired a new position in shares of STMicroelectronics during the first quarter worth approximately $497,000. 5.05% of the stock is owned by institutional investors.
STMicroelectronics Stock Up 1.5%
STM stock opened at $51.50 on Friday. The stock has a fifty day moving average of $55.94 and a 200-day moving average of $53.81. STMicroelectronics N.V. has a fifty-two week low of $21.11 and a fifty-two week high of $81.42. The company has a market capitalization of $46.26 billion, a price-to-earnings ratio of 100.98 and a beta of 1.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 2.78.
Analyst Ratings Changes
STM has been the topic of a number of analyst reports. Craig Hallum restated a “buy” rating and issued a $70.00 target price on shares of STMicroelectronics in a report on Thursday, July 23rd. TD Cowen restated a “hold” rating on shares of STMicroelectronics in a research report on Monday, July 13th. Wall Street Zen upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of STMicroelectronics in a research report on Friday, August 21st. Finally, Susquehanna increased their target price on shares of STMicroelectronics from $60.00 to $75.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.17.
About STMicroelectronics
STMicroelectronics N.V. (NYSE: STM) is a global semiconductor company that designs, develops, manufactures and markets a broad range of integrated circuits and electronic components. Its products are used in automotive systems, industrial equipment, personal electronics, communications infrastructure and other embedded applications.
The company’s portfolio includes microcontrollers and microprocessors, analog and mixed-signal devices, power semiconductors, sensors, MEMS devices, connectivity products and automotive semiconductors.
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