Penserra Capital Management LLC Purchases 181,117 Shares of STMicroelectronics N.V. (NYSE:STM)

Penserra Capital Management LLC boosted its holdings in STMicroelectronics N.V. (NYSE:STM - Free Report) by 41.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 622,759 shares of the semiconductor producer's stock after purchasing an additional 181,117 shares during the quarter. Penserra Capital Management LLC owned about 0.07% of STMicroelectronics worth $13,675,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of STM. Smartleaf Asset Management LLC grew its position in STMicroelectronics by 225.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer's stock valued at $33,000 after purchasing an additional 921 shares during the period. Jones Financial Companies Lllp lifted its stake in STMicroelectronics by 26.1% during the 4th quarter. Jones Financial Companies Lllp now owns 12,722 shares of the semiconductor producer's stock valued at $318,000 after acquiring an additional 2,635 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in STMicroelectronics during the 4th quarter valued at $53,000. Charles Schwab Investment Management Inc. lifted its stake in STMicroelectronics by 10.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,843 shares of the semiconductor producer's stock valued at $1,120,000 after acquiring an additional 4,342 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in STMicroelectronics during the 4th quarter valued at $1,738,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on STM. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of STMicroelectronics in a research note on Friday, April 25th. Oddo Bhf upgraded STMicroelectronics to an "outperform" rating in a research note on Wednesday, July 2nd. Dbs Bank cut STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, TD Cowen raised their price objective on STMicroelectronics from $23.00 to $30.00 and gave the company a "hold" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, STMicroelectronics has an average rating of "Hold" and an average price target of $29.67.

STMicroelectronics Stock Performance

Shares of NYSE STM traded up $1.12 during mid-day trading on Thursday, reaching $33.09. 9,369,344 shares of the company's stock were exchanged, compared to its average volume of 6,233,857. The firm has a market capitalization of $29.72 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.60. STMicroelectronics N.V. has a 52 week low of $17.25 and a 52 week high of $43.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 2.24. The firm has a 50-day moving average price of $27.51 and a two-hundred day moving average price of $25.00.

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, topping analysts' consensus estimates of $0.05 by $0.02. The company had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.55 billion. STMicroelectronics had a return on equity of 6.28% and a net margin of 8.94%. Analysts predict that STMicroelectronics N.V. will post 0.85 EPS 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 paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Tuesday, March 24th. STMicroelectronics's dividend payout ratio is currently 30.51%.

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.