Point72 Asset Management L.P. Increases Stake in STMicroelectronics (NYSE:STM)

Point72 Asset Management L.P. increased its holdings in shares of STMicroelectronics (NYSE:STM) by 243.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,456,224 shares of the semiconductor producer’s stock after buying an additional 1,032,097 shares during the period. Point72 Asset Management L.P. owned about 0.16% of STMicroelectronics worth $55,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Encompass Wealth Advisors LLC purchased a new stake in STMicroelectronics during the 4th quarter worth approximately $26,000. TRU Independence Asset Management 2 LLC acquired a new position in STMicroelectronics during the 4th quarter worth approximately $26,000. GPS Wealth Strategies Group LLC acquired a new position in STMicroelectronics during the 1st quarter worth approximately $32,000. IronBridge Private Wealth LLC acquired a new position in STMicroelectronics during the 4th quarter worth approximately $41,000. Finally, Ameritas Investment Company LLC acquired a new position in STMicroelectronics during the 1st quarter worth approximately $83,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of STMicroelectronics stock opened at $38.51 on Thursday. The stock has a market cap of $35.09 billion, a P/E ratio of 26.77 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.91 and a current ratio of 2.49. STMicroelectronics has a one year low of $26.90 and a one year high of $43.02. The stock’s fifty day moving average price is $37.04.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, April 29th. The semiconductor producer reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.94 billion. STMicroelectronics had a net margin of 11.61% and a return on equity of 16.00%. STMicroelectronics’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. As a group, equities analysts anticipate that STMicroelectronics will post 1.75 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 29th. Stockholders of record on Tuesday, June 22nd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Monday, June 21st. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.04. STMicroelectronics’s dividend payout ratio (DPR) is currently 16.53%.

STM has been the subject of several analyst reports. upgraded shares of STMicroelectronics to a “buy” rating and set a $39.00 price target for the company in a report on Friday, July 9th. Canaccord Genuity boosted their price target on shares of STMicroelectronics from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, April 30th. Societe Generale reiterated a “buy” rating on shares of STMicroelectronics in a report on Tuesday, May 4th. Citigroup upgraded shares of STMicroelectronics from a “neutral” rating to a “buy” rating in a report on Friday, July 9th. Finally, Credit Suisse Group restated an “outperform” rating on shares of STMicroelectronics in a report on Friday, April 30th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $44.67.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and markets semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.

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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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