Van ECK Associates Corp Grows Stock Holdings in STMicroelectronics N.V. $STM

Van ECK Associates Corp increased its position in shares of STMicroelectronics N.V. (NYSE:STM) by 11.3% in the third quarter, HoldingsChannel.com reports. The firm owned 9,387,002 shares of the semiconductor producer’s stock after acquiring an additional 955,243 shares during the quarter. Van ECK Associates Corp’s holdings in STMicroelectronics were worth $265,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Peterson Wealth Services lifted its holdings in STMicroelectronics by 3,086.5% during the 3rd quarter. Peterson Wealth Services now owns 1,179 shares of the semiconductor producer’s stock worth $33,000 after buying an additional 1,142 shares during the last quarter. Rothschild Investment LLC raised its position in shares of STMicroelectronics by 248.4% during the 2nd quarter. Rothschild Investment LLC now owns 1,303 shares of the semiconductor producer’s stock worth $40,000 after acquiring an additional 929 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in STMicroelectronics during the second quarter worth approximately $57,000. Parkside Financial Bank & Trust boosted its holdings in STMicroelectronics by 114.3% in the second quarter. Parkside Financial Bank & Trust now owns 2,509 shares of the semiconductor producer’s stock valued at $76,000 after purchasing an additional 1,338 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in STMicroelectronics by 45.4% in the third quarter. Farther Finance Advisors LLC now owns 2,930 shares of the semiconductor producer’s stock valued at $83,000 after purchasing an additional 915 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Stock Up 6.8%

STM opened at $33.48 on Tuesday. STMicroelectronics N.V. has a 52 week low of $17.25 and a 52 week high of $35.07. The business has a 50 day moving average price of $30.45 and a two-hundred day moving average price of $27.64. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.10. The company has a market cap of $30.07 billion, a PE ratio of 186.00 and a beta of 1.55.

STMicroelectronics (NYSE:STM) last announced its earnings results 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). The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.29 billion. STMicroelectronics had a net margin of 1.41% and a return on equity of 2.70%. As a group, research analysts anticipate that STMicroelectronics N.V. will post 0.85 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on STM. Mizuho set a $28.00 target price on shares of STMicroelectronics in a research report on Friday, January 9th. Weiss Ratings cut STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Finally, Susquehanna upped their target price on STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a research report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.93.

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.