The Manufacturers Life Insurance Company Invests $19.13 Million in STMicroelectronics N.V. $STM

The Manufacturers Life Insurance Company acquired a new stake in STMicroelectronics N.V. (NYSE:STM) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 553,742 shares of the semiconductor producer’s stock, valued at approximately $19,132,000.

Other large investors have also bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in 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 buying an additional 1,145,426 shares during the period. Morgan Stanley increased its stake in shares of 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 buying an additional 1,778,113 shares during the period. Invesco Ltd. raised its position in shares of STMicroelectronics by 29.9% during the fourth quarter. Invesco Ltd. now owns 5,199,951 shares of the semiconductor producer’s stock worth $134,887,000 after acquiring an additional 1,196,018 shares during the last quarter. Bank of America Corp DE raised its position in shares of STMicroelectronics by 43.9% during the second quarter. Bank of America Corp DE now owns 4,348,569 shares of the semiconductor producer’s stock worth $132,240,000 after acquiring an additional 1,326,020 shares during the last quarter. Finally, FIL Ltd lifted its stake in shares of 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 acquiring an additional 146,676 shares during the period. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Trading Down 1.5%

Shares of STM stock opened at $52.27 on Friday. STMicroelectronics N.V. has a fifty-two week low of $21.11 and a fifty-two week high of $81.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 2.78. The stock has a 50 day simple moving average of $68.87 and a two-hundred day simple moving average of $49.24. The company has a market cap of $46.95 billion, a P/E ratio of 102.50 and a beta of 1.93.

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

Analyst Ratings Changes

A number of research firms have weighed in on STM. Susquehanna increased their target price on shares of STMicroelectronics from $60.00 to $75.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Craig Hallum restated a “buy” rating and issued a $70.00 price target on shares of STMicroelectronics in a research report on Thursday, July 23rd. Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Mizuho decreased their price objective on shares of STMicroelectronics from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Finally, Wall Street Zen raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. One 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’s stock. Based on data from MarketBeat, STMicroelectronics has an average rating of “Moderate Buy” and an average target price of $71.65.

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.