ABC Arbitrage SA Buys New Holdings in STMicroelectronics (NYSE:STM)

ABC Arbitrage SA bought a new stake in shares of STMicroelectronics (NYSE:STM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 61,809 shares of the semiconductor producer’s stock, valued at approximately $1,543,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STM. Van ECK Associates Corp raised its stake in STMicroelectronics by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after purchasing an additional 1,719,257 shares during the period. Two Sigma Advisers LP raised its stake in STMicroelectronics by 674.2% during the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock valued at $41,524,000 after purchasing an additional 1,216,300 shares during the period. Mediolanum International Funds Ltd bought a new stake in STMicroelectronics during the 3rd quarter valued at approximately $7,642,000. International Assets Investment Management LLC bought a new stake in STMicroelectronics in the 3rd quarter worth approximately $4,158,000. Finally, Point72 Asset Management L.P. bought a new stake in STMicroelectronics in the 3rd quarter worth approximately $1,924,000. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

STM has been the topic of a number of research reports. Bank of America downgraded STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. Barclays downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 22nd. Susquehanna reduced their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a research note on Friday, January 31st. Craig Hallum reduced their price objective on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a report on Thursday. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.26.

STMicroelectronics Price Performance

STM opened at $24.46 on Friday. The business has a fifty day moving average of $24.71 and a 200 day moving average of $27.04. STMicroelectronics has a 52-week low of $21.36 and a 52-week high of $49.05. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. The stock has a market cap of $22.09 billion, a P/E ratio of 14.73, a PEG ratio of 0.97 and a beta of 1.51.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that STMicroelectronics will post 0.82 EPS for the current year.

STMicroelectronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio is 18.67%.

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.