Renaissance Technologies LLC Purchases Shares of 579,071 STMicroelectronics (NYSE:STM)

Renaissance Technologies LLC purchased a new position in shares of STMicroelectronics (NYSE:STM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 579,071 shares of the semiconductor producer's stock, valued at approximately $14,397,000. Renaissance Technologies LLC owned about 0.06% of STMicroelectronics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in STM. Clear Creek Financial Management LLC acquired a new position in STMicroelectronics in the fourth quarter valued at $468,000. Callan Family Office LLC acquired a new stake in STMicroelectronics during the 4th quarter worth approximately $486,000. Raymond James Financial Inc. acquired a new position in STMicroelectronics during the fourth quarter valued at approximately $1,738,000. Schechter Investment Advisors LLC acquired a new stake in shares of STMicroelectronics in the fourth quarter worth $758,000. Finally, Diversified Trust Co purchased a new position in shares of STMicroelectronics in the 4th quarter valued at $583,000. Institutional investors and hedge funds own 5.05% of the company's stock.

STMicroelectronics Stock Up 0.5 %

STM traded up $0.10 during trading on Friday, reaching $20.22. 6,790,348 shares of the stock traded hands, compared to its average volume of 5,409,990. The stock's 50-day simple moving average is $23.36 and its two-hundred day simple moving average is $24.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39. The stock has a market cap of $18.16 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, equities research analysts expect that STMicroelectronics will post 0.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on STM shares. Susquehanna cut their price objective on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a research report on Friday, January 31st. Morgan Stanley raised shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research report on Thursday, February 13th. Bank of America downgraded shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Barclays lowered STMicroelectronics from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein cut shares of STMicroelectronics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $33.00 to $26.00 in a report on Wednesday, February 5th. One equities research 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.26.

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.