PNC Financial Services Group Inc. Buys 165,264 Shares of STMicroelectronics N.V. $STM

PNC Financial Services Group Inc. increased its stake in STMicroelectronics N.V. (NYSE:STM) by 878.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 184,067 shares of the semiconductor producer’s stock after acquiring an additional 165,264 shares during the quarter. PNC Financial Services Group Inc.’s holdings in STMicroelectronics were worth $5,202,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ABC Arbitrage SA increased its stake in shares of STMicroelectronics by 378.6% in the 3rd quarter. ABC Arbitrage SA now owns 620,238 shares of the semiconductor producer’s stock valued at $17,528,000 after acquiring an additional 490,652 shares in the last quarter. Penserra Capital Management LLC grew its holdings in STMicroelectronics by 43.4% in the third quarter. Penserra Capital Management LLC now owns 927,695 shares of the semiconductor producer’s stock worth $26,216,000 after purchasing an additional 280,615 shares during the period. Calamos Advisors LLC acquired a new stake in STMicroelectronics in the third quarter worth $3,222,000. Hardman Johnston Global Advisors LLC bought a new stake in STMicroelectronics in the third quarter valued at $10,924,000. Finally, Greenland Capital Management LP acquired a new position in shares of STMicroelectronics during the second quarter valued at about $4,375,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

STM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of STMicroelectronics in a research report on Wednesday, January 21st. Robert W. Baird set a $45.00 price objective on STMicroelectronics in a research note on Friday, October 24th. TD Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a research report on Friday, October 24th. Finally, Mizuho set a $28.00 target price on STMicroelectronics in a report on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.93.

STMicroelectronics Stock Up 1.3%

Shares of NYSE:STM opened at $33.64 on Friday. The business’s 50 day moving average is $28.83 and its 200 day moving average is $27.01. STMicroelectronics N.V. has a 12-month low of $17.25 and a 12-month high of $35.07. The stock has a market cap of $30.22 billion, a price-to-earnings ratio of 186.92 and a beta of 1.59. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.10.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $3.29 billion. STMicroelectronics had a net margin of 1.41% and a return on equity of 2.70%. On average, sell-side analysts forecast that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.

About STMicroelectronics

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.