Point72 Asset Management L.P. Grows Position in STMicroelectronics (NYSE:STM)

Point72 Asset Management L.P. grew its position in shares of STMicroelectronics (NYSE:STM - Free Report) by 181.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,316 shares of the semiconductor producer's stock after buying an additional 117,589 shares during the quarter. Point72 Asset Management L.P.'s holdings in STMicroelectronics were worth $4,552,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in STMicroelectronics during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC grew its stake in shares of STMicroelectronics by 225.7% during the fourth 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 last quarter. Rakuten Securities Inc. grew its stake in shares of STMicroelectronics by 197.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer's stock valued at $44,000 after purchasing an additional 1,180 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of STMicroelectronics during the fourth quarter valued at approximately $53,000. Finally, Crews Bank & Trust bought a new stake in shares of STMicroelectronics during the fourth quarter valued at approximately $70,000. 5.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STM shares. Bank of America cut shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Susquehanna decreased their price target on shares of STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a research note on Friday, January 31st. Jefferies Financial Group upgraded shares of STMicroelectronics from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Morgan Stanley upgraded shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. Finally, Dbs Bank lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $30.97.

STMicroelectronics Stock Performance

Shares of NYSE:STM traded down $0.04 during midday trading on Thursday, reaching $25.21. 7,480,680 shares of the company traded hands, compared to its average volume of 5,712,056. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 12 month low of $17.25 and a 12 month high of $45.39. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. The firm's fifty day moving average price is $22.58 and its two-hundred day moving average price is $24.27.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. On average, equities analysts expect that STMicroelectronics will post 0.85 earnings per share for the current year.

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.