Healthcare of Ontario Pension Plan Trust Fund Sells 49,200 Shares of STMicroelectronics N.V. $STM

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 8.2% during the first quarter, HoldingsChannel.com reports. The firm owned 550,800 shares of the semiconductor producer’s stock after selling 49,200 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in STMicroelectronics were worth $19,030,000 as of its most recent filing with the SEC.

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

STMicroelectronics Stock Up 3.5%

Shares of STM opened at $53.35 on Tuesday. The firm has a market cap of $47.92 billion, a P/E ratio of 104.61 and a beta of 1.93. The stock has a 50 day simple moving average of $69.97 and a two-hundred day simple moving average of $48.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.78 and a quick ratio of 2.08. STMicroelectronics N.V. has a 1 year low of $21.11 and a 1 year high of $81.42.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, July 23rd. The semiconductor producer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.46 billion. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. On average, analysts forecast that STMicroelectronics N.V. will post 1.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

STM has been the subject of several recent analyst reports. Weiss Ratings raised STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Morgan Stanley reissued an “overweight” rating on shares of STMicroelectronics in a research note on Tuesday, June 30th. Barclays set a $60.00 price target on shares of STMicroelectronics in a report on Friday. Susquehanna lifted their price objective on shares of STMicroelectronics from $60.00 to $75.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.65.

STMicroelectronics Company 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.