Penserra Capital Management LLC Purchases 280,615 Shares of STMicroelectronics N.V. $STM

Penserra Capital Management LLC boosted its position in shares of STMicroelectronics N.V. (NYSE:STM) by 43.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 927,695 shares of the semiconductor producer’s stock after acquiring an additional 280,615 shares during the period. Penserra Capital Management LLC owned 0.10% of STMicroelectronics worth $26,216,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of 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 worth $132,240,000 after purchasing an additional 1,326,020 shares during the period. JPMorgan Chase & Co. boosted its stake in STMicroelectronics by 6.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,349,547 shares of the semiconductor producer’s stock valued at $101,860,000 after purchasing an additional 212,499 shares during the period. Rafferty Asset Management LLC grew its holdings in STMicroelectronics by 50.7% in the 2nd quarter. Rafferty Asset Management LLC now owns 3,020,721 shares of the semiconductor producer’s stock valued at $91,860,000 after buying an additional 1,016,035 shares during the last quarter. Analog Century Management LP grew its holdings in STMicroelectronics by 37.3% in the 2nd quarter. Analog Century Management LP now owns 2,182,403 shares of the semiconductor producer’s stock valued at $66,367,000 after buying an additional 592,599 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in STMicroelectronics in the 2nd quarter worth approximately $58,593,000. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Stock Down 3.2%

STM opened at $27.85 on Wednesday. The company has a market capitalization of $25.01 billion, a P/E ratio of 154.73 and a beta of 1.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.36 and a quick ratio of 2.43. The firm’s fifty day moving average price is $26.82 and its two-hundred day moving average price is $26.56. STMicroelectronics N.V. has a fifty-two week low of $17.25 and a fifty-two week high of $33.47.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, January 29th. The semiconductor producer reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.29 billion. STMicroelectronics had a net margin of 1.41% and a return on equity of 2.70%. On average, analysts anticipate that STMicroelectronics N.V. will post 0.85 EPS for the current year.

Analyst Upgrades and Downgrades

STM has been the subject of several research reports. TD Cowen reissued a “hold” rating on shares of STMicroelectronics in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of STMicroelectronics in a research report on Wednesday, January 21st. Mizuho set a $28.00 price target on shares of STMicroelectronics in a report on Friday, January 9th. Susquehanna raised their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Finally, Robert W. Baird set a $45.00 price objective on shares of STMicroelectronics in a report on Friday, October 24th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, STMicroelectronics currently has an average rating of “Hold” and an average price target of $31.19.

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.