STMicroelectronics (NYSE:STM) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP increased its stake in shares of STMicroelectronics (NYSE:STM) by 674.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,396,700 shares of the semiconductor producer’s stock after purchasing an additional 1,216,300 shares during the period. Two Sigma Advisers LP owned 0.15% of STMicroelectronics worth $41,524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of STM. Van ECK Associates Corp raised its holdings in STMicroelectronics by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after acquiring an additional 1,719,257 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of STMicroelectronics by 177.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after buying an additional 1,478,213 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of STMicroelectronics by 0.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock valued at $61,443,000 after buying an additional 7,732 shares during the period. Federated Hermes Inc. boosted its position in shares of STMicroelectronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock worth $25,469,000 after purchasing an additional 364,184 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of STMicroelectronics by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 469,669 shares of the semiconductor producer’s stock worth $18,449,000 after purchasing an additional 28,846 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Price Performance

Shares of STM opened at $26.43 on Friday. STMicroelectronics has a twelve month low of $23.95 and a twelve month high of $51.27. The firm’s fifty day simple moving average is $26.90 and its 200-day simple moving average is $32.81. The firm has a market capitalization of $23.88 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 3.14 and a beta of 1.53. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the business earned $1.16 EPS. The company’s revenue was down 26.6% on a year-over-year basis. Equities analysts forecast that STMicroelectronics will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Craig Hallum lowered their price objective on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Susquehanna reaffirmed a “positive” rating and set a $33.00 price objective on shares of STMicroelectronics in a research report on Thursday, November 21st. Morgan Stanley cut shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Robert W. Baird decreased their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.26.

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.