Channing Global Advisors LLC Purchases Shares of 14,375 STMicroelectronics N.V. $STM

Channing Global Advisors LLC purchased a new stake in STMicroelectronics N.V. (NYSE:STM) during the first quarter, Holdings Channel reports. The firm purchased 14,375 shares of the semiconductor producer’s stock, valued at approximately $497,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of STM. Van ECK Associates Corp raised its stake in shares of STMicroelectronics by 12.2% during the 4th quarter. Van ECK Associates Corp now owns 10,532,428 shares of the semiconductor producer’s stock worth $273,211,000 after acquiring an additional 1,145,426 shares in the last quarter. Morgan Stanley boosted its stake in STMicroelectronics by 40.6% in the fourth quarter. Morgan Stanley now owns 6,156,161 shares of the semiconductor producer’s stock valued at $159,691,000 after acquiring an additional 1,778,113 shares in the last quarter. Invesco Ltd. boosted its stake in STMicroelectronics by 29.9% in the fourth quarter. Invesco Ltd. now owns 5,199,951 shares of the semiconductor producer’s stock valued at $134,887,000 after acquiring an additional 1,196,018 shares in the last quarter. Bank of America Corp DE boosted its stake in STMicroelectronics by 43.9% in the second quarter. Bank of America Corp DE now owns 4,348,569 shares of the semiconductor producer’s stock valued at $132,240,000 after acquiring an additional 1,326,020 shares in the last quarter. Finally, FIL Ltd grew its holdings in STMicroelectronics by 5.0% in the fourth quarter. FIL Ltd now owns 3,107,386 shares of the semiconductor producer’s stock worth $80,606,000 after purchasing an additional 146,676 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Up 4.4%

Shares of STMicroelectronics stock opened at $71.53 on Friday. The firm’s 50 day simple moving average is $69.01 and its two-hundred day simple moving average is $45.69. The firm has a market capitalization of $64.25 billion, a price-to-earnings ratio of 447.10 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 company has a current ratio of 3.31, a quick ratio of 2.34 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Saturday, March 28th. The semiconductor producer reported $0.13 EPS for the quarter. The business had revenue of $3.10 billion during the quarter. STMicroelectronics had a net margin of 1.19% and a return on equity of 3.01%. Analysts predict that STMicroelectronics N.V. will post 1.25 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on STM shares. Zacks Research upgraded STMicroelectronics from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Mizuho boosted their target price on STMicroelectronics from $68.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of STMicroelectronics in a research report on Tuesday, June 30th. Weiss Ratings upgraded STMicroelectronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, Barclays upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.39.

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.