STMicroelectronics N.V. $STM Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its stake in STMicroelectronics N.V. (NYSE:STM) by 74.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,059 shares of the semiconductor producer’s stock after buying an additional 6,852 shares during the period. Ritholtz Wealth Management’s holdings in STMicroelectronics were worth $555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley boosted its holdings in shares of STMicroelectronics by 40.6% in the fourth quarter. Morgan Stanley now owns 6,156,161 shares of the semiconductor producer’s stock valued at $159,691,000 after acquiring an additional 1,778,113 shares in the last quarter. Marshall Wace LLP bought a new stake in STMicroelectronics during the fourth quarter worth approximately $42,731,000. Invesco Ltd. raised its holdings in STMicroelectronics by 67.1% during the third quarter. Invesco Ltd. now owns 4,003,933 shares of the semiconductor producer’s stock worth $113,151,000 after purchasing an additional 1,608,029 shares in the last quarter. Defiance ETFs LLC acquired a new stake in STMicroelectronics in the fourth quarter worth approximately $39,545,000. Finally, Two Sigma Investments LP boosted its stake in STMicroelectronics by 135.0% during the 3rd quarter. Two Sigma Investments LP now owns 2,322,540 shares of the semiconductor producer’s stock valued at $65,635,000 after purchasing an additional 1,334,192 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Monday. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a report on Friday, April 24th. Bank of America upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, June 10th. UBS Group set a $100.00 price target on shares of STMicroelectronics in a report on Wednesday, June 10th. Finally, Mizuho raised their price objective on shares of STMicroelectronics from $68.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.39.

STMicroelectronics Stock Performance

STM opened at $74.92 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 3.31 and a debt-to-equity ratio of 0.12. The firm has a market cap of $67.29 billion, a PE ratio of 468.27 and a beta of 1.94. The business has a fifty day simple moving average of $65.98 and a 200-day simple moving average of $43.55. STMicroelectronics N.V. has a fifty-two week low of $21.11 and a fifty-two week high of $81.42.

STMicroelectronics (NYSE:STM) last announced 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, equities analysts predict that STMicroelectronics N.V. will post 1.17 EPS for the current fiscal year.

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.