64,727 Shares in STMicroelectronics (NYSE:STM) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in shares of STMicroelectronics (NYSE:STM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 64,727 shares of the semiconductor producer’s stock, valued at approximately $1,924,000.

Several other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in STMicroelectronics in the third quarter valued at about $25,000. Archer Investment Corp bought a new stake in STMicroelectronics during the 3rd quarter worth approximately $30,000. Waldron Private Wealth LLC acquired a new stake in STMicroelectronics during the 3rd quarter worth approximately $34,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of 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 worth $49,000 after acquiring an additional 734 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of STMicroelectronics during the second quarter worth $51,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on STM. Craig Hallum dropped their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Robert W. Baird decreased their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. BNP Paribas started coverage on shares of STMicroelectronics in a research report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 target price for the company. Morgan Stanley cut shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Finally, StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.26.

STMicroelectronics Trading Up 0.5 %

STMicroelectronics stock opened at $26.56 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. The stock has a 50-day simple moving average of $26.84 and a 200 day simple moving average of $32.58. The stock has a market capitalization of $23.99 billion, a P/E ratio of 10.93, a PEG ratio of 3.21 and a beta of 1.53. STMicroelectronics has a 52 week low of $23.95 and a 52 week high of $51.27.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping 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 business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the firm earned $1.16 EPS. The firm’s revenue was down 26.6% compared to the same quarter last year. Analysts expect that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio is presently 12.35%.

STMicroelectronics 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.