Penserra Capital Management LLC Buys 280,615 Shares of STMicroelectronics N.V. $STM

Penserra Capital Management LLC increased its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 43.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 927,695 shares of the semiconductor producer’s stock after acquiring an additional 280,615 shares during the period. Penserra Capital Management LLC’s holdings in STMicroelectronics were worth $26,216,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new position in STMicroelectronics during the second quarter worth $58,593,000. Bank of America Corp DE boosted its stake in shares of STMicroelectronics by 43.9% in the 2nd quarter. Bank of America Corp DE now owns 4,348,569 shares of the semiconductor producer’s stock valued at $132,240,000 after purchasing an additional 1,326,020 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of STMicroelectronics by 50.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 3,020,721 shares of the semiconductor producer’s stock worth $91,860,000 after purchasing an additional 1,016,035 shares during the last quarter. Shellback Capital LP bought a new stake in shares of STMicroelectronics in the 2nd quarter worth about $26,457,000. Finally, Analog Century Management LP increased its position in shares of STMicroelectronics by 37.3% during the 2nd quarter. Analog Century Management LP now owns 2,182,403 shares of the semiconductor producer’s stock worth $66,367,000 after purchasing an additional 592,599 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on STM. Robert W. Baird set a $45.00 price target on shares of STMicroelectronics in a research report on Friday, October 24th. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Friday, October 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of STMicroelectronics in a report on Wednesday, January 21st. Mizuho set a $28.00 price target on STMicroelectronics in a research report on Friday, January 9th. Finally, Susquehanna lifted their price objective on STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, STMicroelectronics has a consensus rating of “Hold” and an average target price of $31.19.

STMicroelectronics Price Performance

STM opened at $27.85 on Wednesday. STMicroelectronics N.V. has a one year low of $17.25 and a one year high of $33.47. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.36 and a quick ratio of 2.43. The company’s 50 day simple moving average is $26.82 and its 200-day simple moving average is $26.56. The stock has a market capitalization of $25.01 billion, a P/E ratio of 154.73 and a beta of 1.59.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, January 29th. The semiconductor producer reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.16). STMicroelectronics had a return on equity of 2.70% and a net margin of 1.41%.The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.29 billion. Sell-side analysts anticipate that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.

STMicroelectronics Company 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.