Point72 Hong Kong Ltd Buys 46,007 Shares of STMicroelectronics (NYSE:STM)

Point72 Hong Kong Ltd boosted its position in shares of STMicroelectronics (NYSE:STM - Free Report) by 96.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,907 shares of the semiconductor producer's stock after purchasing an additional 46,007 shares during the quarter. Point72 Hong Kong Ltd's holdings in STMicroelectronics were worth $2,345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STM. J2 Capital Management Inc bought a new stake in STMicroelectronics during the 4th quarter worth about $295,000. Crossmark Global Holdings Inc. increased its stake in shares of STMicroelectronics by 1.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 65,561 shares of the semiconductor producer's stock valued at $1,637,000 after acquiring an additional 749 shares during the last quarter. Blue Trust Inc. increased its stake in shares of STMicroelectronics by 15.4% in the 4th quarter. Blue Trust Inc. now owns 11,159 shares of the semiconductor producer's stock valued at $279,000 after acquiring an additional 1,491 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of STMicroelectronics in the 4th quarter valued at about $1,365,000. Finally, Crews Bank & Trust bought a new stake in shares of STMicroelectronics in the 4th quarter valued at about $70,000. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Stock Performance

STMicroelectronics stock traded up $0.08 during mid-day trading on Wednesday, hitting $25.95. 2,476,547 shares of the company's stock traded hands, compared to its average volume of 7,467,747. The firm has a 50 day simple moving average of $22.58 and a two-hundred day simple moving average of $24.27. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39. The stock has a market cap of $23.30 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.16 and a beta of 1.53. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37.

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

Analyst Ratings Changes

STM has been the subject of several research analyst reports. Sanford C. Bernstein lowered STMicroelectronics from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $33.00 to $26.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a research report on Friday, April 25th. Jefferies Financial Group upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Dbs Bank cut STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Morgan Stanley upgraded STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, STMicroelectronics presently has an average rating of "Hold" and a consensus target price of $30.97.

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.