Capital Research & Management Co recently announced the acquisition of new stake in ST Microelectronics (NYSE:STM). The institutional investor has increased its shareholding in the Technology company by 2.58% to 2.81 million shares with purchase of 70788.0 shares. This fresh investment now brings its stake to 0.31% valued currently at $121.47 million. In addition, BlackRock Fund Advisors raised its holdings by 0.39 million to 2.69 million shares. And Point72 Asset Management LP has lifted its position by 1.71% or 37685.0 shares – to 2.24 million shares.
With over 5.46 million ST Microelectronics (STM) shares trading Tuesday and a closing price of $43.74 on the day, the dollar volume was approximately $238.64 million. The shares have shown a positive half year performance of 2.94% and its price on 11/14/23 gained nearly 5.96%. Currently, there are 903.98M common shares owned by the public and among those 903.98M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for STM have a consensus price objective of $55.32. The analysts have set the share’s price value over the next 12 months at a high of $73.80 and a low of $35.00. The average price target is 20.93% above its recent price level and a downside to the estimated low will see the stock lose -24.97% over that period. But an upside of 40.73% will see the stock hit the forecast high price target while median target price for the stock is $55.44.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 97,209 shares.
The top 3 mutual fund holders in ST Microelectronics are VanEck Semiconductor ETF, iShares Semiconductor ETF, and Direxion Daily Semiconductor Bull. VanEck Semiconductor ETF owns 2.88 million shares of the company’s stock, all valued at over $124.19 million. The company sold 59826.0 shares recently to bring their total holdings to about 0.32% of the shares outstanding. Direxion Daily Semiconductor Bull sold 15504.0 shares to bring its total holdings to over 1.55 million shares at a value of $66.81 million. Direxion Daily Semiconductor Bull now owns shares totaling to 0.17% of the shares outstanding.
Shares of ST Microelectronics (NYSE: STM) opened at $43.59, up $2.31 from a prior closing price of $41.28. However, the script later moved the day high at 44.02, up 5.96%. The company’s stock has a 5-day price change of 7.21% and -5.67% over the past three months. STM shares are trading 22.97% year to date (YTD), with the 12-month market performance up to 15.99% higher. It has a 12-month low price of $34.59 and touched a high of $55.85 over the same period. STM has an average intraday trading volume of 3.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.64%, 3.30%, and -6.18% respectively.
Institutional ownership of ST Microelectronics (NYSE: STM) shares accounts for 5.69% of the company’s 903.98M shares outstanding. Mutual fund holders own 1.50%, while other institutional holders and individual stakeholders account for 4.06% and — respectively.
It has a market capitalization of $39.54B and a beta (3y monthly) value of 1.62. The stock’s trailing 12-month PE ratio is 9.41, while the earnings-per-share (ttm) stands at $4.65. The company has a PEG of 1.88 and a Quick Ratio of 2.17 with the debt-to-equity ratio at 0.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.00% over the week and 2.27% over the month.
Analysts forecast that ST Microelectronics (STM) will achieve an EPS of $0.95 for the current quarter, $0.9 for the next quarter and $3.96 for 2024. The lowest estimate earnings-per-share for the quarter is $0.91 while analysts give the company a high EPS estimate of $0.97. Comparatively, EPS for the current quarter was $1.32 a year ago. Earnings per share for the fiscal year are expected to increase by 2.45%, and -6.02% over the next financial year. EPS should shrink at an annualized rate of 5.00% over the next five years, compared to 35.69% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate ST Microelectronics (STM) as a “Strong Buy” at a consensus score of 1.92. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 7 of the 25 advise that investors “hold,” and 1 rated it as a “Sell.”
