STMicroelectronics (NYSE:STM) Shares Bought by Voloridge Investment Management LLC

Voloridge Investment Management LLC grew its holdings in shares of STMicroelectronics (NYSE:STM - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,330,616 shares of the semiconductor producer's stock after buying an additional 938,097 shares during the quarter. Voloridge Investment Management LLC owned 0.37% of STMicroelectronics worth $83,165,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Two Sigma Investments LP grew 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 worth $111,750,000 after purchasing an additional 725,684 shares in the last quarter. JPMorgan Chase & Co. grew its stake in STMicroelectronics by 131.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock worth $85,232,000 after purchasing an additional 1,939,088 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in STMicroelectronics by 576.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer's stock worth $47,962,000 after purchasing an additional 1,636,707 shares in the last quarter. Two Sigma Advisers LP grew its stake in STMicroelectronics by 35.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,886,700 shares of the semiconductor producer's stock worth $47,111,000 after purchasing an additional 490,000 shares in the last quarter. Finally, Invesco Ltd. grew its stake 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 purchasing an additional 858,624 shares in the last quarter. Institutional investors own 5.05% of the company's stock.

Analyst Upgrades and Downgrades

STM has been the subject of several analyst reports. Bank of America lowered STMicroelectronics from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Jefferies Financial Group raised STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Sanford C. Bernstein cut STMicroelectronics from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $33.00 to $26.00 in a research report on Wednesday, February 5th. Susquehanna lowered their price objective on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a report on Friday, January 31st. Finally, Morgan Stanley upgraded STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $30.97.

STMicroelectronics Trading Down 2.8%

Shares of NYSE:STM traded down $0.72 during midday trading on Friday, reaching $24.46. The company's stock had a trading volume of 7,651,988 shares, compared to its average volume of 5,739,575. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. 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 1 year low of $17.25 and a 1 year high of $45.39. The business has a 50 day moving average price of $22.56 and a 200 day moving average price of $24.24.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Research analysts forecast that STMicroelectronics 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, July 1st. Investors of record on Tuesday, June 24th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.47%. The ex-dividend date is Tuesday, June 24th. STMicroelectronics's dividend payout ratio is currently 25.42%.

STMicroelectronics Company 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.