Aigen Investment Management LP Acquires New Holdings in STMicroelectronics (NYSE:STM)

Aigen Investment Management LP purchased a new position in shares of STMicroelectronics (NYSE:STM) in the 3rd quarter, Holdings Channel reports. The firm purchased 38,904 shares of the semiconductor producer’s stock, valued at approximately $1,157,000.

A number of other large investors also recently modified their holdings of STM. Van ECK Associates Corp boosted its stake in shares of STMicroelectronics by 26.5% during the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after purchasing an additional 1,719,257 shares in the last quarter. Capital International Investors grew its holdings in shares of STMicroelectronics by 2.4% during the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock valued at $135,467,000 after buying an additional 74,519 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in STMicroelectronics by 177.3% during 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 purchasing an additional 1,478,213 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of STMicroelectronics by 0.5% during the second 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 last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of STMicroelectronics by 1,564,831.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after acquiring an additional 1,079,734 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein cut their price objective on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Susquehanna lowered their target price on STMicroelectronics from $35.00 to $33.00 and set a “positive” rating on the stock in a research note on Friday, November 1st. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Finally, Robert W. Baird lowered their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Stock Up 1.1 %

STM opened at $27.15 on Wednesday. STMicroelectronics has a 12 month low of $25.95 and a 12 month high of $51.27. The company has a market cap of $24.53 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 3.27 and a beta of 1.57. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $28.04 and a 200 day moving average of $34.64.

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

STMicroelectronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s payout ratio is 12.76%.

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.