Polymer Capital Management US LLC acquired a new position in shares of STMicroelectronics (NYSE:STM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,300 shares of the semiconductor producer's stock, valued at approximately $2,205,000.
Several other institutional investors and hedge funds also recently made changes to their positions in STM. JPMorgan Chase & Co. increased its holdings in shares of STMicroelectronics by 131.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer's stock worth $85,232,000 after buying an additional 1,939,088 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in STMicroelectronics by 576.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer's stock worth $47,962,000 after purchasing an additional 1,636,707 shares in the last quarter. Brandes Investment Partners LP bought a new stake in shares of STMicroelectronics during the fourth quarter worth $15,570,000. American Century Companies Inc. increased its stake in shares of STMicroelectronics by 4.4% in the fourth quarter. American Century Companies Inc. now owns 518,411 shares of the semiconductor producer's stock valued at $12,945,000 after buying an additional 21,983 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of STMicroelectronics by 982.0% in the fourth quarter. Sei Investments Co. now owns 262,088 shares of the semiconductor producer's stock valued at $6,543,000 after buying an additional 237,865 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.
STMicroelectronics Price Performance
STM traded up $1.56 on Friday, reaching $20.49. The stock had a trading volume of 10,712,160 shares, compared to its average volume of 5,353,552. The firm has a 50-day moving average of $23.53 and a 200-day moving average of $25.23. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39. The company has a market capitalization of $18.40 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11.
STMicroelectronics (NYSE:STM - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. As a group, sell-side analysts anticipate that STMicroelectronics will post 0.85 EPS for the current year.
Analyst Ratings Changes
STM has been the subject of several recent research reports. Morgan Stanley raised STMicroelectronics from an "underweight" rating to an "equal weight" rating in a report on Thursday, February 13th. Jefferies Financial Group raised shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Barclays downgraded shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, January 22nd. Susquehanna decreased their price objective on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a report on Friday, January 31st. Finally, TD Cowen downgraded STMicroelectronics from a "buy" rating to a "hold" rating and cut their target price for the company from $32.00 to $25.00 in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $31.26.
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About STMicroelectronics
(
Free Report)
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.
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