Elevation Point Wealth Partners LLC Takes Position in STMicroelectronics N.V. $STM

Elevation Point Wealth Partners LLC bought a new position in STMicroelectronics N.V. (NYSE:STM) during the 1st quarter, Holdings Channel reports. The institutional investor bought 7,572 shares of the semiconductor producer’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Portus Wealth Advisors LLC purchased a new stake in STMicroelectronics during the first quarter valued at about $32,000. CIBC Private Wealth Group LLC raised its holdings in shares of STMicroelectronics by 3,746.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock worth $26,000 after purchasing an additional 974 shares during the period. Abound Wealth Management purchased a new position in shares of STMicroelectronics in the 4th quarter worth about $26,000. Advisory Services Network LLC acquired a new position in shares of STMicroelectronics in the 3rd quarter valued at about $52,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of STMicroelectronics by 350.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,680 shares of the semiconductor producer’s stock valued at $70,000 after purchasing an additional 2,085 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Stock Up 0.1%

Shares of STMicroelectronics stock opened at $71.45 on Friday. 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 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 $64.17 billion, a P/E ratio of 446.57 and a beta of 1.93. The business has a 50-day moving average price of $69.39 and a 200 day moving average price of $45.87.

STMicroelectronics (NYSE:STM) last posted its quarterly 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 business had revenue of $3.10 billion for the quarter. On average, sell-side analysts forecast that STMicroelectronics N.V. will post 1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

STM has been the subject of a number of research analyst reports. Barclays raised shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Monday, June 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of STMicroelectronics in a research report on Tuesday, June 30th. Craig Hallum upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Thursday, April 23rd. Robert W. Baird set a $90.00 price objective on shares of STMicroelectronics in a research note on Friday, April 24th. Finally, Bank of America raised shares of STMicroelectronics from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.39.

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.