Oppenheimer Asset Management Inc. lifted its holdings in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 146.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,585 shares of the semiconductor producer's stock after acquiring an additional 15,190 shares during the period. Oppenheimer Asset Management Inc.'s holdings in STMicroelectronics were worth $562,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in STMicroelectronics by 131.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock valued at $85,232,000 after purchasing an additional 1,939,088 shares during the period. Arrowstreet Capital Limited Partnership grew its position in STMicroelectronics by 576.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer's stock valued at $47,962,000 after buying an additional 1,636,707 shares during the period. Voloridge Investment Management LLC increased its holdings in 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. Invesco Ltd. raised its position in STMicroelectronics by 94.4% in the fourth quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer's stock worth $44,142,000 after acquiring an additional 858,624 shares during the period. Finally, Two Sigma Investments LP boosted its stake in 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 acquiring an additional 725,684 shares during 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 issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of STMicroelectronics in a research note on Friday, April 25th. TD Cowen lifted their price objective on shares of STMicroelectronics from $23.00 to $30.00 and gave the company a "hold" rating in a research note on Friday, June 13th. Oddo Bhf raised STMicroelectronics to an "outperform" rating in a report on Wednesday. Finally, Dbs Bank lowered STMicroelectronics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.67.
Check Out Our Latest Stock Report on STM
STMicroelectronics Price Performance
Shares of NYSE:STM traded up $0.55 during trading on Thursday, reaching $32.25. The company had a trading volume of 4,742,369 shares, compared to its average volume of 6,146,359. The company has a fifty day moving average of $26.61 and a two-hundred day moving average of $24.76. The company has a current ratio of 3.05, a quick ratio of 2.24 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $28.97 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 1.83 and a beta of 1.60. STMicroelectronics N.V. has a 12 month low of $17.25 and a 12 month high of $43.32.
STMicroelectronics (NYSE:STM - Get Free Report) last released its earnings results 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 return on equity of 6.28% and a net margin of 8.94%. The business had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.55 billion. Equities research analysts forecast that STMicroelectronics N.V. will post 0.85 earnings per share for the current 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 issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 24th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.12%. STMicroelectronics's dividend payout ratio is 26.27%.
About STMicroelectronics
(
Free Report)
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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