Ninepoint Partners LP Makes New $1.46 Million Investment in STMicroelectronics N.V. $STM

Ninepoint Partners LP purchased a new position in STMicroelectronics N.V. (NYSE:STM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,434 shares of the semiconductor producer’s stock, valued at approximately $1,455,000.

A number of other large investors have also modified their holdings of the stock. Portus Wealth Advisors LLC acquired a new position in shares of STMicroelectronics during the first quarter worth $32,000. CIBC Private Wealth Group LLC raised its stake in STMicroelectronics by 3,746.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,000 shares of the semiconductor producer’s stock valued at $26,000 after buying an additional 974 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in STMicroelectronics during the 1st quarter worth about $45,000. Advisory Services Network LLC purchased a new stake in STMicroelectronics during the 3rd quarter worth about $52,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of STMicroelectronics by 350.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 2,680 shares of the semiconductor producer’s stock worth $70,000 after acquiring an additional 2,085 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $49.74 on Friday. The stock has a market cap of $44.67 billion, a P/E ratio of 97.53 and a beta of 1.95. STMicroelectronics N.V. has a twelve month low of $21.11 and a twelve month high of $81.42. The stock has a 50 day moving average of $63.47 and a two-hundred day moving average of $51.86. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM) last announced its earnings results on Friday, July 24th. The semiconductor producer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.46 billion. On average, research analysts forecast that STMicroelectronics N.V. will post 1.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Susquehanna increased their price objective on STMicroelectronics from $60.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Barclays set a $60.00 price target on STMicroelectronics in a report on Friday, July 24th. TD Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research note on Monday, July 13th. Zacks Research cut shares of STMicroelectronics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Craig Hallum restated a “buy” rating and set a $70.00 price objective on shares of STMicroelectronics in a research report on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.65.

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.