Denali Advisors LLC Purchases New Stake in STMicroelectronics N.V. $STM

Denali Advisors LLC purchased a new stake in STMicroelectronics N.V. (NYSE:STM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,898 shares of the semiconductor producer's stock, valued at approximately $423,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in STMicroelectronics by 148.4% during the first quarter. Acadian Asset Management LLC now owns 5,650,244 shares of the semiconductor producer's stock worth $124,055,000 after purchasing an additional 3,375,428 shares during the last quarter. Invesco Ltd. raised its holdings in STMicroelectronics by 188.1% during the first quarter. Invesco Ltd. now owns 5,093,785 shares of the semiconductor producer's stock worth $111,860,000 after purchasing an additional 3,325,998 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in STMicroelectronics by 59.9% during the first quarter. BNP Paribas Financial Markets now owns 2,451,052 shares of the semiconductor producer's stock worth $53,825,000 after purchasing an additional 918,263 shares during the last quarter. Analog Century Management LP acquired a new position in STMicroelectronics during the first quarter worth $34,912,000. Finally, Junto Capital Management LP acquired a new position in STMicroelectronics during the first quarter worth $30,565,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a report on Friday, July 25th. Robert W. Baird raised STMicroelectronics from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $23.00 to $50.00 in a report on Tuesday, July 22nd. Weiss Ratings cut STMicroelectronics from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, October 8th. Baird R W raised STMicroelectronics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Susquehanna boosted their price target on STMicroelectronics from $35.00 to $40.00 and gave the stock a "positive" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $32.06.

STMicroelectronics Stock Performance

STMicroelectronics stock opened at $29.06 on Thursday. The firm has a market capitalization of $26.10 billion, a P/E ratio of 42.12, a PEG ratio of 6.29 and a beta of 1.66. The stock has a fifty day moving average price of $27.61 and a 200 day moving average price of $26.76. STMicroelectronics N.V. has a 52 week low of $17.25 and a 52 week high of $33.47. The company has a current ratio of 2.74, a quick ratio of 1.96 and a debt-to-equity ratio of 0.11.

STMicroelectronics (NYSE:STM - Get Free Report) last released its earnings results on Thursday, July 24th. The semiconductor producer reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.71 billion. STMicroelectronics had a net margin of 5.49% and a return on equity of 4.55%. Equities research analysts anticipate that STMicroelectronics N.V. will post 0.85 earnings per share for the current year.

STMicroelectronics Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.

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