Eagle Global Advisors LLC Acquires New Position in STMicroelectronics N.V. (NYSE:STM)

Key Points

• Eagle Global Advisors LLC has invested approximately $834,000 in STMicroelectronics N.V., acquiring 38,000 shares in the first quarter.
• STMicroelectronics reported a missed EPS of $0.06 for the latest quarter, falling short of the $0.10 consensus estimate, despite revenue exceeding expectations at $2.77 billion.
• Analysts have a mixed outlook on STMicroelectronics, with ratings ranging from sell to strong buy, while the average target price stands at $32.21.

Eagle Global Advisors LLC bought a new stake in STMicroelectronics N.V. (NYSE:STM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,000 shares of the semiconductor producer's stock, valued at approximately $834,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. lifted its stake in shares of STMicroelectronics by 188.1% in the 1st quarter. Invesco Ltd. now owns 5,093,785 shares of the semiconductor producer's stock valued at $111,860,000 after purchasing an additional 3,325,998 shares during the period. Two Sigma Investments LP lifted its position in shares of STMicroelectronics by 19.4% during the 4th quarter. Two Sigma Investments LP now owns 4,475,384 shares of the semiconductor producer's stock valued at $111,750,000 after acquiring an additional 725,684 shares during the period. Voloridge Investment Management LLC lifted its position in shares of STMicroelectronics by 39.2% during the 4th quarter. Voloridge Investment Management LLC now owns 3,330,616 shares of the semiconductor producer's stock valued at $83,165,000 after acquiring an additional 938,097 shares during the period. Two Sigma Advisers LP lifted its position in shares of STMicroelectronics by 35.1% during the 4th quarter. Two Sigma Advisers LP now owns 1,886,700 shares of the semiconductor producer's stock valued at $47,111,000 after acquiring an additional 490,000 shares during the period. Finally, Barclays PLC raised its holdings in shares of STMicroelectronics by 22.1% during the fourth quarter. Barclays PLC now owns 1,281,006 shares of the semiconductor producer's stock valued at $31,987,000 after purchasing an additional 231,668 shares during the period. Institutional investors and hedge funds own 5.05% of the company's stock.

STMicroelectronics Stock Performance

Shares of STM traded down $0.26 on Thursday, reaching $25.89. 5,303,859 shares of the company's stock traded hands, compared to its average volume of 7,639,934. The company has a current ratio of 2.74, a quick ratio of 1.96 and a debt-to-equity ratio of 0.11. The stock has a market cap of $23.25 billion, a PE ratio of 37.52, a PEG ratio of 4.13 and a beta of 1.61. The stock's 50 day simple moving average is $29.22 and its two-hundred day simple moving average is $25.54. STMicroelectronics N.V. has a 52-week low of $17.25 and a 52-week high of $33.47.

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

STMicroelectronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, March 24th. This represents a $0.36 annualized dividend and a yield of 1.4%. STMicroelectronics's dividend payout ratio is presently 52.17%.

Wall Street Analysts Forecast Growth

STM has been the topic of several research reports. Craig Hallum lowered shares of STMicroelectronics from a "buy" rating to a "hold" rating and set a $28.00 price objective on the stock. in a report on Thursday, July 24th. Robert W. Baird raised STMicroelectronics from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $23.00 to $50.00 in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a research report on Friday, July 25th. Oddo Bhf upgraded shares of STMicroelectronics to an "outperform" rating in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group set a $26.50 price objective on shares of STMicroelectronics and gave the stock a "neutral" rating in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $32.21.

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.