Highbridge Capital Management LLC raised its holdings in shares of STMicroelectronics N.V. (NYSE:STM) by 154.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,835,000 shares of the semiconductor producer’s stock after acquiring an additional 1,112,500 shares during the quarter. STMicroelectronics comprises approximately 0.5% of Highbridge Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Highbridge Capital Management LLC owned approximately 0.20% of STMicroelectronics worth $35,636,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its holdings in STMicroelectronics by 17.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,651 shares of the semiconductor producer’s stock valued at $111,224,000 after acquiring an additional 1,151,164 shares during the period. Sensato Investors LLC raised its holdings in STMicroelectronics by 17.2% during the 2nd quarter. Sensato Investors LLC now owns 1,941,246 shares of the semiconductor producer’s stock valued at $27,915,000 after acquiring an additional 285,200 shares during the period. Quentec Asset Management LLC raised its holdings in STMicroelectronics by 121.7% during the 2nd quarter. Quentec Asset Management LLC now owns 1,835,373 shares of the semiconductor producer’s stock valued at $26,393,000 after acquiring an additional 1,007,467 shares during the period. FMR LLC raised its holdings in STMicroelectronics by 2.4% during the 2nd quarter. FMR LLC now owns 1,452,766 shares of the semiconductor producer’s stock valued at $20,890,000 after acquiring an additional 34,106 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in STMicroelectronics by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,446,567 shares of the semiconductor producer’s stock valued at $27,818,000 after acquiring an additional 144,894 shares during the period. 5.06% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. Craig Hallum reissued a “buy” rating on shares of STMicroelectronics in a report on Wednesday, September 13th. Zacks Investment Research raised shares of STMicroelectronics from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a report on Tuesday, October 31st. Finally, ValuEngine cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.88.
STMicroelectronics N.V. (NYSE:STM) traded up $0.34 during trading on Monday, hitting $21.74. 2,854,541 shares of the stock traded hands, compared to its average volume of 4,511,309. The company has a market capitalization of $19,495.95, a PE ratio of 29.32, a P/E/G ratio of 4.66 and a beta of 0.78. STMicroelectronics N.V. has a 52-week low of $10.41 and a 52-week high of $24.80. The company has a current ratio of 2.29, a quick ratio of 1.73 and a debt-to-equity ratio of 0.33.
STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, October 26th. The semiconductor producer reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.10 billion. STMicroelectronics had a net margin of 7.84% and a return on equity of 13.47%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. equities research analysts forecast that STMicroelectronics N.V. will post 0.92 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Tuesday, December 19th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, December 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.10%. STMicroelectronics’s payout ratio is currently 29.41%.
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STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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