Engineers Gate Manager LP Makes New Investment in STMicroelectronics N.V. $STM

Key Points

• Engineers Gate Manager LP purchased 98,900 STMicroelectronics shares in the second quarter, valued at approximately $7.4 million. Other institutional investors also initiated or increased positions, though institutional ownership remains relatively low at 5.05%.
• Analysts maintain a generally positive outlook, with seven Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $76.17.
• STMicroelectronics reported quarterly earnings of $0.31 per share, beating estimates of $0.26, while revenue of $3.49 billion slightly exceeded expectations. Shares opened at $51.50, with the stock trading between a 52-week low of $21.11 and high of $81.42.

Engineers Gate Manager LP purchased a new stake in STMicroelectronics N.V. (NYSE:STM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 98,900 shares of the semiconductor producer's stock, valued at approximately $7,407,000.

A number of other large investors have also added to or reduced their stakes in STM. Militia Capital Management LLC acquired a new position in shares of STMicroelectronics during the 1st quarter worth $3,455,000. Situational Awareness LP bought a new stake in shares of STMicroelectronics during the 2nd quarter worth $584,344,000. PNC Financial Services Group Inc. boosted its stake in STMicroelectronics by 65.3% in the first quarter. PNC Financial Services Group Inc. now owns 228,674 shares of the semiconductor producer's stock valued at $7,901,000 after buying an additional 90,330 shares in the last quarter. Cetera Investment Advisers grew its position in STMicroelectronics by 98.1% in the first quarter. Cetera Investment Advisers now owns 72,354 shares of the semiconductor producer's stock valued at $2,500,000 after acquiring an additional 35,829 shares during the last quarter. Finally, Channing Global Advisors LLC bought a new position in STMicroelectronics in the first quarter valued at about $497,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on STM. UBS Group set a $100.00 price objective on shares of STMicroelectronics in a research report on Wednesday, June 10th. Citigroup restated a "buy" rating on shares of STMicroelectronics in a research report on Wednesday, September 2nd. Mizuho decreased their target price on shares of STMicroelectronics from $84.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, July 24th. TD Cowen reiterated a "hold" rating on shares of STMicroelectronics in a report on Monday, July 13th. Finally, Craig Hallum reiterated a "buy" rating and issued a $70.00 price target on shares of STMicroelectronics in a research note on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.17.

STMicroelectronics Trading Up 1.5%

Shares of NYSE STM opened at $51.50 on Friday. The stock has a market cap of $46.26 billion, a P/E ratio of 100.98 and a beta of 1.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 2.78. STMicroelectronics N.V. has a 52-week low of $21.11 and a 52-week high of $81.42. The firm has a 50 day moving average price of $55.94 and a two-hundred day moving average price of $53.81.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its earnings results on Friday, July 24th. The semiconductor producer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.46 billion. STMicroelectronics had a return on equity of 4.30% and a net margin of 3.56%. As a group, equities analysts forecast that STMicroelectronics N.V. will post 1.3 EPS for the current year.

STMicroelectronics Profile

STMicroelectronics N.V. NYSE: STM is a global semiconductor company that designs, develops, manufactures and markets a broad range of integrated circuits and electronic components. Its products are used in automotive systems, industrial equipment, personal electronics, communications infrastructure and other embedded applications.

The company's portfolio includes microcontrollers and microprocessors, analog and mixed-signal devices, power semiconductors, sensors, MEMS devices, connectivity products and automotive semiconductors.

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