Point72 Asset Management L.P. Invests $1.92 Million in STMicroelectronics (NYSE:STM)

Point72 Asset Management L.P. acquired a new position in shares of STMicroelectronics (NYSE:STM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 64,727 shares of the semiconductor producer's stock, valued at approximately $1,924,000.

Several other large investors have also modified their holdings of STM. Aigen Investment Management LP acquired a new position in STMicroelectronics in the third quarter valued at $1,157,000. Washington Capital Management Inc. purchased a new stake in STMicroelectronics during the 3rd quarter valued at approximately $1,112,000. Point72 Hong Kong Ltd acquired a new stake in STMicroelectronics during the 3rd quarter worth approximately $1,424,000. American Century Companies Inc. increased its holdings in shares of STMicroelectronics by 6.5% in the second quarter. American Century Companies Inc. now owns 469,669 shares of the semiconductor producer's stock valued at $18,449,000 after purchasing an additional 28,846 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of STMicroelectronics during the third quarter worth approximately $7,642,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STM. StockNews.com lowered STMicroelectronics from a "buy" rating to a "hold" rating in a report on Thursday, September 19th. Craig Hallum lowered their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of STMicroelectronics in a research report on Monday. Citigroup upgraded shares of STMicroelectronics to a "strong-buy" rating in a research report on Thursday, October 10th. Finally, Susquehanna restated a "positive" rating and set a $33.00 price objective on shares of STMicroelectronics in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, STMicroelectronics currently has an average rating of "Moderate Buy" and a consensus price target of $36.26.

STMicroelectronics Stock Performance

Shares of NYSE:STM traded down $0.16 on Tuesday, hitting $26.38. 4,026,582 shares of the company were exchanged, compared to its average volume of 4,085,465. STMicroelectronics has a one year low of $23.95 and a one year high of $51.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. The firm has a market capitalization of $23.83 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 3.21 and a beta of 1.53. The company's 50 day moving average price is $26.84 and its two-hundred day moving average price is $32.58.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The firm had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.27 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The company's quarterly revenue was down 26.6% compared to the same quarter last year. Research analysts expect that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a yield of 1.36%. STMicroelectronics's payout ratio is presently 12.35%.

About STMicroelectronics

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.