Generate Investment Management Ltd Makes New $15.86 Million Investment in STMicroelectronics N.V. $STM

Key Points

• Generate Investment Management Ltd. acquired 297,167 STMicroelectronics shares worth approximately $15.86 million in the third quarter. Hedge funds and institutional investors collectively own 5.05% of the company.
• STMicroelectronics reported quarterly EPS of $0.31, beating analysts’ $0.26 estimate, while revenue reached $3.49 billion versus expectations of $3.46 billion.
• The stock recently traded at $47.52, with analysts holding a consensus “Moderate Buy” rating and an average price target of $76.17.

Generate Investment Management Ltd bought a new stake in STMicroelectronics N.V. (NYSE:STM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 297,167 shares of the semiconductor producer's stock, valued at approximately $15,857,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Situational Awareness LP bought a new position in shares of STMicroelectronics in the 2nd quarter worth approximately $584,344,000. Militia Capital Management LLC bought a new stake in STMicroelectronics during the first quarter valued at approximately $3,455,000. Revere Asset Management Inc bought a new stake in STMicroelectronics during the second quarter valued at approximately $8,437,000. Silverleafe Capital Partners LLC purchased a new stake in STMicroelectronics during the third quarter valued at approximately $1,113,000. Finally, Confluence Investment Management LLC purchased a new stake in STMicroelectronics during the third quarter valued at approximately $1,334,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Price Performance

NYSE:STM traded down $2.05 during trading hours on Wednesday, hitting $47.52. 5,207,170 shares of the stock traded hands, compared to its average volume of 10,058,975. The company has a market cap of $42.68 billion, a price-to-earnings ratio of 93.30 and a beta of 1.96. STMicroelectronics N.V. has a 1 year low of $21.11 and a 1 year high of $81.42. The stock has a 50 day moving average price of $52.11 and a 200 day moving average price of $56.93. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The semiconductor producer reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. The firm had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.46 billion. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. Sell-side analysts forecast that STMicroelectronics N.V. will post 1.30 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley reiterated an "overweight" rating on shares of STMicroelectronics in a research report on Tuesday, June 30th. Craig Hallum reissued a "buy" rating and set a $70.00 price objective on shares of STMicroelectronics in a research report on Thursday, July 23rd. Weiss Ratings restated a "hold (c-)" rating on shares of STMicroelectronics in a research note on Friday, August 21st. The Goldman Sachs Group decreased their target price on STMicroelectronics from $67.50 to $60.50 and set a "neutral" rating on the stock in a report on Monday, July 27th. Finally, Barclays set a $60.00 target price on STMicroelectronics in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.17.

STMicroelectronics Company Profile

STMicroelectronics N.V. NYSE: STM is a global semiconductor company that designs, develops, manufactures and markets a broad range of electronic components and solutions. Its products support applications in automotive, industrial, personal electronics, communications infrastructure and other technology markets.

The company's portfolio includes microcontrollers, microprocessors, analog and mixed-signal integrated circuits, power semiconductors, sensors, MEMS devices, connectivity products and embedded-processing solutions.

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