Freestone Grove Partners LP Purchases Shares of 214,366 STMicroelectronics (NYSE:STM)

Freestone Grove Partners LP purchased a new stake in STMicroelectronics (NYSE:STM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 214,366 shares of the semiconductor producer's stock, valued at approximately $5,353,000.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in STMicroelectronics by 131.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock worth $85,232,000 after buying an additional 1,939,088 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of STMicroelectronics by 576.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer's stock valued at $47,962,000 after acquiring an additional 1,636,707 shares during the period. Invesco Ltd. raised its position in shares of STMicroelectronics by 94.4% in the fourth quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer's stock valued at $44,142,000 after buying an additional 858,624 shares in the last quarter. Barclays PLC increased its holdings 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 worth $31,987,000 after buying an additional 231,668 shares in the last quarter. Finally, Brandes Investment Partners LP bought a new stake in STMicroelectronics during the fourth quarter valued at $15,570,000. Institutional investors own 5.05% of the company's stock.

STMicroelectronics Price Performance

Shares of STM stock traded up $0.39 during midday trading on Thursday, reaching $23.45. 2,452,905 shares of the company were exchanged, compared to its average volume of 5,556,475. The company has a market cap of $21.06 billion, a P/E ratio of 14.13, a PEG ratio of 1.16 and a beta of 1.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The company's 50 day moving average price is $22.51 and its two-hundred day moving average price is $24.45. STMicroelectronics has a 12 month low of $17.25 and a 12 month high of $45.39.

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

Wall Street Analysts Forecast Growth

STM has been the subject of several research reports. Jefferies Financial Group upgraded shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Sanford C. Bernstein cut shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $33.00 to $26.00 in a research report on Wednesday, February 5th. Dbs Bank downgraded shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Barclays downgraded STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 22nd. Finally, Bank of America cut shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $30.97.

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.