STMicroelectronics (NYSE:STM) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its position in shares of STMicroelectronics (NYSE:STM) by 576.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,920,774 shares of the semiconductor producer’s stock after purchasing an additional 1,636,707 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in STMicroelectronics were worth $47,962,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of STM. GAMMA Investing LLC lifted its holdings in shares of STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 531 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of STMicroelectronics in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC boosted its holdings in shares of STMicroelectronics by 225.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock valued at $33,000 after acquiring an additional 921 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of STMicroelectronics by 108.3% during the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in STMicroelectronics by 197.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock valued at $44,000 after purchasing an additional 1,180 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Stock Performance

STM opened at $21.77 on Wednesday. The firm’s fifty day simple moving average is $24.41 and its two-hundred day simple moving average is $25.79. STMicroelectronics has a 52-week low of $21.28 and a 52-week high of $45.39. The company has a market cap of $19.55 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.16 and a beta of 1.56. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. Equities analysts anticipate that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STM. Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Sanford C. Bernstein lowered STMicroelectronics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Susquehanna cut their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a report on Friday, January 31st. Finally, TD Cowen downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $25.00 in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.26.

STMicroelectronics Company 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.