Cubist Systematic Strategies LLC raised its position in shares of STMicroelectronics N.V. (NYSE:STM) by 216.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,763 shares of the semiconductor producer’s stock after acquiring an additional 65,522 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in STMicroelectronics N.V. were worth $1,377,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of STMicroelectronics N.V. by 114.9% during the first quarter. PNC Financial Services Group Inc. now owns 7,808 shares of the semiconductor producer’s stock valued at $121,000 after acquiring an additional 4,175 shares during the last quarter. Financial Architects Inc raised its holdings in shares of STMicroelectronics N.V. by 14.8% during the second quarter. Financial Architects Inc now owns 9,141 shares of the semiconductor producer’s stock valued at $132,000 after acquiring an additional 1,181 shares during the last quarter. Atria Investments LLC acquired a new position in shares of STMicroelectronics N.V. during the second quarter valued at approximately $160,000. Stevens Capital Management LP acquired a new position in shares of STMicroelectronics N.V. during the second quarter valued at approximately $163,000. Finally, MML Investors Services LLC acquired a new position in shares of STMicroelectronics N.V. during the second quarter valued at approximately $166,000. 5.35% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on STM shares. BidaskClub raised STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Stifel Nicolaus raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating and reduced their target price for the company from $14.84 to $14.50 in a report on Tuesday, June 27th. Zacks Investment Research cut STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. J P Morgan Chase & Co raised STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 11th. Finally, Craig Hallum reissued a “buy” rating on shares of STMicroelectronics N.V. in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. STMicroelectronics N.V. currently has a consensus rating of “Buy” and a consensus target price of $18.38.
STMicroelectronics N.V. (NYSE:STM) traded down 0.10% during midday trading on Thursday, hitting $20.00. The company had a trading volume of 990,251 shares. The stock’s 50-day moving average price is $18.76 and its 200-day moving average price is $16.68. STMicroelectronics N.V. has a 52-week low of $7.83 and a 52-week high of $20.05. The stock has a market cap of $17.76 billion, a PE ratio of 40.90 and a beta of 0.70.
STMicroelectronics N.V. (NYSE:STM) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts expect that STMicroelectronics N.V. will post $0.82 EPS for the current fiscal year.
STMicroelectronics N.V. declared that its Board of Directors has initiated a stock buyback program on Thursday, June 22nd that authorizes the company to buyback $297.00 million in shares. This buyback authorization authorizes the semiconductor producer to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 26th. Investors of record on Tuesday, September 19th were given a dividend of $0.06 per share. The ex-dividend date was Monday, September 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.20%. STMicroelectronics N.V.’s dividend payout ratio is currently 40.00%.
STMicroelectronics N.V. Company Profile
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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