Novem Group Purchases New Shares in STMicroelectronics (NYSE:STM)

Novem Group acquired a new stake in STMicroelectronics (NYSE:STM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,697 shares of the semiconductor producer's stock, valued at approximately $492,000.

Other large investors have also recently bought and sold shares of the company. Voloridge Investment Management LLC grew its holdings in shares of STMicroelectronics by 39.2% during the fourth quarter. Voloridge Investment Management LLC now owns 3,330,616 shares of the semiconductor producer's stock worth $83,165,000 after buying an additional 938,097 shares during the last quarter. Two Sigma Advisers LP raised its stake 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 worth $47,111,000 after buying an additional 490,000 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of STMicroelectronics in the 4th quarter valued at approximately $212,000. Two Sigma Investments LP boosted its stake in shares of STMicroelectronics by 19.4% in the fourth quarter. Two Sigma Investments LP now owns 4,475,384 shares of the semiconductor producer's stock valued at $111,750,000 after buying an additional 725,684 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in STMicroelectronics by 181.7% in the fourth quarter. Point72 Asset Management L.P. now owns 182,316 shares of the semiconductor producer's stock worth $4,552,000 after acquiring an additional 117,589 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein cut STMicroelectronics from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of STMicroelectronics from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Dbs Bank lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Bank of America cut shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Finally, Susquehanna dropped their price target on shares of STMicroelectronics from $33.00 to $28.00 and set a "positive" rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, STMicroelectronics presently has an average rating of "Hold" and an average price target of $30.97.

STMicroelectronics Stock Down 0.7%

Shares of STM traded down $0.19 during trading on Wednesday, reaching $25.20. The company's stock had a trading volume of 2,990,151 shares, compared to its average volume of 5,734,403. STMicroelectronics has a twelve month low of $17.25 and a twelve month high of $45.39. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.16 and a beta of 1.53. The company has a fifty day moving average of $22.56 and a two-hundred day moving average of $24.21.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.55 billion. On average, sell-side analysts predict that STMicroelectronics will post 0.85 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Tuesday, June 24th. STMicroelectronics's dividend payout ratio is presently 25.42%.

About STMicroelectronics

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.