Polar Asset Management Partners Inc. Buys New Position in STMicroelectronics N.V. $STM

Key Points

• Polar Asset Management Partners bought 75,251 shares of STMicroelectronics in the first quarter, valued at approximately $2.6 million. Other institutional investors, including Morgan Stanley, Invesco and Two Sigma, also increased their holdings or initiated new positions.
• STMicroelectronics exceeded quarterly expectations, reporting earnings of $0.31 per share versus the $0.26 consensus estimate and revenue of $3.49 billion. Analysts project full-year earnings of $1.22 per share.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $71.65, compared with the stock’s reported price of $53.35.

Polar Asset Management Partners Inc. purchased a new stake in STMicroelectronics N.V. (NYSE:STM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 75,251 shares of the semiconductor producer's stock, valued at approximately $2,600,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley boosted its holdings in STMicroelectronics by 40.6% during the fourth quarter. Morgan Stanley now owns 6,156,161 shares of the semiconductor producer's stock worth $159,691,000 after purchasing an additional 1,778,113 shares during the last quarter. Marshall Wace LLP purchased a new stake in STMicroelectronics in the 4th quarter valued at about $42,731,000. Invesco Ltd. lifted its position in shares of STMicroelectronics by 67.1% during the 3rd quarter. Invesco Ltd. now owns 4,003,933 shares of the semiconductor producer's stock worth $113,151,000 after buying an additional 1,608,029 shares in the last quarter. Defiance ETFs LLC purchased a new position in shares of STMicroelectronics in the 4th quarter worth approximately $39,545,000. Finally, Two Sigma Investments LP grew its holdings in shares of STMicroelectronics by 135.0% in the third quarter. Two Sigma Investments LP now owns 2,322,540 shares of the semiconductor producer's stock valued at $65,635,000 after acquiring an additional 1,334,192 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

STMicroelectronics Price Performance

STM opened at $53.35 on Tuesday. The stock has a 50-day moving average price of $69.97 and a 200-day moving average price of $48.76. STMicroelectronics N.V. has a 12-month low of $21.11 and a 12-month high of $81.42. The company has a current ratio of 2.78, a quick ratio of 2.08 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $47.92 billion, a P/E ratio of 104.61 and a beta of 1.93.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The semiconductor producer reported $0.31 earnings per share 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 analyst estimates of $3.46 billion. STMicroelectronics had a net margin of 3.56% and a return on equity of 4.30%. Equities analysts predict that STMicroelectronics N.V. will post 1.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

STM has been the subject of a number of research analyst reports. Citigroup reaffirmed a "buy" rating on shares of STMicroelectronics in a research report on Sunday, April 26th. Wall Street Zen upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Saturday. Bank of America upgraded STMicroelectronics from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Wednesday, June 10th. Barclays set a $60.00 price target on shares of STMicroelectronics in a research report on Friday. Finally, TD Cowen reiterated a "hold" rating on shares of STMicroelectronics in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $71.65.

STMicroelectronics Profile

STMicroelectronics is a global semiconductor company headquartered in Geneva, Switzerland, formed through the 1987 merger of SGS Microelettronica and Thomson Semiconducteurs. The company designs, develops and manufactures a broad range of semiconductor products and solutions that serve multiple end markets worldwide. ST's offerings span from basic components to integrated systems, emphasizing energy-efficient and high-performance devices for modern electronics.

Product categories include microcontrollers (notably the widely used STM32 family), analog and mixed-signal ICs, power MOSFETs and power-management devices, MEMS and sensors, image sensors, and discrete semiconductors.

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