Barometer Capital Management Inc. Invests $1.74 Million in STMicroelectronics N.V. $STM

Barometer Capital Management Inc. purchased a new stake in STMicroelectronics N.V. (NYSE:STM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 50,400 shares of the semiconductor producer’s stock, valued at approximately $1,741,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi bought a new position in STMicroelectronics during the first quarter worth about $947,000. AQR Capital Management LLC boosted its holdings in STMicroelectronics by 182.8% in the 1st quarter. AQR Capital Management LLC now owns 32,094 shares of the semiconductor producer’s stock valued at $705,000 after purchasing an additional 20,745 shares during the period. Legal & General Group Plc acquired a new position in shares of STMicroelectronics during the 2nd quarter worth approximately $119,000. M&T Bank Corp acquired a new position in shares of STMicroelectronics during the 2nd quarter worth approximately $303,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of STMicroelectronics by 79.1% during the second quarter. EverSource Wealth Advisors LLC now owns 4,883 shares of the semiconductor producer’s stock worth $148,000 after purchasing an additional 2,156 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STM. Robert W. Baird set a $90.00 price target on STMicroelectronics in a research note on Friday, April 24th. Mizuho lifted their price objective on STMicroelectronics from $68.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. UBS Group set a $100.00 target price on STMicroelectronics in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a report on Thursday, June 11th. Finally, Citigroup reaffirmed a “buy” rating on shares of STMicroelectronics in a research note on Sunday, April 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.28.

STMicroelectronics Stock Up 6.0%

Shares of NYSE STM opened at $65.51 on Wednesday. The company has a current ratio of 3.31, a quick ratio of 2.34 and a debt-to-equity ratio of 0.12. The company has a market cap of $58.84 billion, a price-to-earnings ratio of 409.48 and a beta of 1.93. STMicroelectronics N.V. has a 12 month low of $21.11 and a 12 month high of $81.42. The stock has a 50-day moving average price of $70.49 and a two-hundred day moving average price of $47.96.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Saturday, March 28th. The semiconductor producer reported $0.13 earnings per share for the quarter. The company had revenue of $3.10 billion for the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. As a group, analysts forecast that STMicroelectronics N.V. will post 1.25 earnings per share 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.