47,900 Shares in STMicroelectronics (NYSE:STM) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd bought a new stake in shares of STMicroelectronics (NYSE:STM) during the 3rd quarter, Holdings Channel reports. The firm bought 47,900 shares of the semiconductor producer’s stock, valued at approximately $1,424,000.

A number of other institutional investors also recently added to or reduced their stakes in STM. B. Riley Wealth Advisors Inc. bought a new stake in shares of STMicroelectronics during the 1st quarter worth about $235,000. Jane Street Group LLC increased its position in shares of STMicroelectronics by 153.8% during the 1st quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after purchasing an additional 108,152 shares during the period. Tidal Investments LLC boosted its stake in STMicroelectronics by 12.4% during the first quarter. Tidal Investments LLC now owns 20,083 shares of the semiconductor producer’s stock valued at $868,000 after buying an additional 2,214 shares in the last quarter. Cetera Investment Advisers grew its holdings in STMicroelectronics by 340.9% during the first quarter. Cetera Investment Advisers now owns 45,285 shares of the semiconductor producer’s stock worth $1,958,000 after acquiring an additional 35,015 shares during the period. Finally, Cetera Advisors LLC raised its position in STMicroelectronics by 145.6% in the first quarter. Cetera Advisors LLC now owns 18,735 shares of the semiconductor producer’s stock worth $810,000 after acquiring an additional 11,106 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Trading Up 0.4 %

NYSE:STM opened at $25.50 on Monday. The stock has a market cap of $23.04 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.57. STMicroelectronics has a fifty-two week low of $23.95 and a fifty-two week high of $51.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. The stock’s 50-day moving average is $27.19 and its two-hundred day moving average is $33.31.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating 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 analyst estimates of $3.27 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The company’s revenue for the quarter was down 26.6% compared to the same quarter last year. As a group, equities research analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on STM. Robert W. Baird lowered their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Craig Hallum decreased their price target 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. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Finally, Susquehanna reiterated a “positive” rating and issued a $33.00 price target on shares of STMicroelectronics in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Company Profile

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.