ABC Arbitrage SA Acquires 34,042 Shares of STMicroelectronics N.V. (NYSE:STM)

Key Points

• ABC Arbitrage SA increased its position in STMicroelectronics N.V. by 55.1% in Q1, holding 95,851 shares valued at $2,105,000 as of the latest SEC filing.
• Shares of STMicroelectronics have received various ratings from analysts, with one upgrade to "strong-buy" and a consensus rating of "Hold" along with a target price of $32.21.
• The company reported a net margin of 5.49% on revenues of $2.77 billion in its latest earnings, although it missed EPS estimates with a report of $0.06.

ABC Arbitrage SA raised its holdings in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 55.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,851 shares of the semiconductor producer's stock after purchasing an additional 34,042 shares during the quarter. ABC Arbitrage SA's holdings in STMicroelectronics were worth $2,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Two Sigma Investments LP lifted its holdings 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 worth $111,750,000 after buying an additional 725,684 shares in the last quarter. Voloridge Investment Management LLC grew its position 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 valued at $83,165,000 after acquiring an additional 938,097 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of STMicroelectronics by 35.1% during the fourth quarter. Two Sigma Advisers LP now owns 1,886,700 shares of the semiconductor producer's stock valued at $47,111,000 after purchasing an additional 490,000 shares during the period. Invesco Ltd. boosted its stake in shares of STMicroelectronics by 94.4% during the fourth quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer's stock valued at $44,142,000 after purchasing an additional 858,624 shares during the period. Finally, Barclays PLC boosted its stake in shares of STMicroelectronics by 22.1% during the fourth quarter. Barclays PLC now owns 1,281,006 shares of the semiconductor producer's stock valued at $31,987,000 after purchasing an additional 231,668 shares during the period. 5.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on STM shares. The Goldman Sachs Group set a $26.50 price target on STMicroelectronics and gave the stock a "neutral" rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of STMicroelectronics in a report on Friday, July 25th. TD Cowen reduced their price objective on STMicroelectronics from $34.00 to $27.00 and set a "hold" rating for the company in a report on Friday, July 25th. Susquehanna boosted their target price on STMicroelectronics from $30.00 to $40.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. Finally, Robert W. Baird upgraded STMicroelectronics from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $23.00 to $50.00 in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, STMicroelectronics currently has an average rating of "Hold" and an average target price of $32.21.

STMicroelectronics Price Performance

NYSE STM traded up $0.35 during trading hours on Friday, reaching $25.18. The company's stock had a trading volume of 5,857,508 shares, compared to its average volume of 8,948,820. The firm's 50-day moving average price is $29.26 and its 200-day moving average price is $25.54. The company has a quick ratio of 1.96, a current ratio of 2.74 and a debt-to-equity ratio of 0.11. STMicroelectronics N.V. has a 1 year low of $17.25 and a 1 year high of $33.47. The company has a market capitalization of $22.62 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 3.90 and a beta of 1.61.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The semiconductor producer reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04). The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.71 billion. STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%. On average, equities research analysts predict that STMicroelectronics N.V. will post 0.85 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently declared 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. This represents a $0.36 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, March 24th. STMicroelectronics's dividend payout ratio is presently 44.93%.

STMicroelectronics Profile

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.