Aigen Investment Management LP Invests $1.16 Million in STMicroelectronics (NYSE:STM)

Aigen Investment Management LP bought a new position in shares of STMicroelectronics (NYSE:STM - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 38,904 shares of the semiconductor producer's stock, valued at approximately $1,157,000.

Several other hedge funds have also added to or reduced their stakes in STM. Waldron Private Wealth LLC bought a new stake in shares of STMicroelectronics in the 3rd quarter valued at $34,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in STMicroelectronics by 144.2% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer's stock valued at $49,000 after purchasing an additional 734 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in STMicroelectronics during the second quarter valued at about $51,000. Tompkins Financial Corp purchased a new stake in STMicroelectronics during the third quarter valued at about $59,000. Finally, Covestor Ltd bought a new stake in shares of STMicroelectronics during the third quarter valued at about $62,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

STM stock traded down $1.27 during midday trading on Wednesday, hitting $25.88. The company's stock had a trading volume of 5,207,519 shares, compared to its average volume of 3,996,193. The firm has a market capitalization of $23.38 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 3.30 and a beta of 1.57. STMicroelectronics has a 12 month low of $25.69 and a 12 month high of $51.27. The company has a 50 day moving average of $28.04 and a two-hundred day moving average of $34.64. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12.

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, beating 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 company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the company earned $1.16 earnings per share. The firm's revenue for the quarter was down 26.6% compared to the same quarter last year. On average, analysts expect that STMicroelectronics will post 1.64 EPS for the current year.

STMicroelectronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics's dividend payout ratio (DPR) is presently 12.76%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on STM shares. Sanford C. Bernstein decreased their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 30th. Robert W. Baird cut their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Susquehanna lowered their price objective on STMicroelectronics from $35.00 to $33.00 and set a "positive" rating for the company in a research report on Friday, November 1st. Craig Hallum lowered their price target on STMicroelectronics from $42.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Finally, TD Cowen lowered their price target on STMicroelectronics from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, STMicroelectronics has a consensus rating of "Moderate Buy" and a consensus target price of $37.63.

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.