STMicroelectronics N.V. $STM Shares Acquired by M&T Bank Corp

M&T Bank Corp boosted its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 243.1% in the fourth quarter, HoldingsChannel reports. The firm owned 33,299 shares of the semiconductor producer’s stock after purchasing an additional 23,593 shares during the quarter. M&T Bank Corp’s holdings in STMicroelectronics were worth $864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Abound Wealth Management bought a new position in STMicroelectronics in the 4th quarter worth about $26,000. Peterson Wealth Services grew its position in STMicroelectronics by 3,086.5% in the 3rd quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock worth $33,000 after purchasing an additional 1,142 shares during the last quarter. Advisory Services Network LLC bought a new position in STMicroelectronics in the 3rd quarter worth about $52,000. Farther Finance Advisors LLC grew its position in STMicroelectronics by 45.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,930 shares of the semiconductor producer’s stock worth $83,000 after purchasing an additional 915 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in STMicroelectronics by 132.7% in the 2nd quarter. Rakuten Securities Inc. now owns 2,916 shares of the semiconductor producer’s stock worth $89,000 after purchasing an additional 1,663 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on STM shares. Weiss Ratings upgraded shares of STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, April 24th. Craig Hallum raised STMicroelectronics from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Thursday, April 23rd. TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a research note on Friday, April 24th. Susquehanna increased their price target on STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a research note on Monday, February 23rd. Finally, Mizuho set a $48.00 price target on STMicroelectronics and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.07.

STMicroelectronics Trading Up 4.9%

STMicroelectronics stock opened at $55.26 on Friday. The firm has a 50 day simple moving average of $37.34 and a 200-day simple moving average of $30.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.31 and a quick ratio of 2.34. The stock has a market capitalization of $49.64 billion, a PE ratio of 345.42 and a beta of 1.51. STMicroelectronics N.V. has a 12-month low of $21.11 and a 12-month high of $55.31.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $3.10 billion during the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. As a group, equities research analysts expect that STMicroelectronics N.V. will post 1.09 EPS for the current fiscal year.

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.