Quantbot Technologies LP Has $2.89 Million Holdings in STMicroelectronics (NYSE:STM)

Quantbot Technologies LP raised its stake in shares of STMicroelectronics (NYSE:STM) by 174.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 97,063 shares of the semiconductor producer’s stock after purchasing an additional 61,682 shares during the period. Quantbot Technologies LP’s holdings in STMicroelectronics were worth $2,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of STMicroelectronics in the third quarter valued at approximately $25,000. Archer Investment Corp bought a new position in STMicroelectronics during the 3rd quarter valued at $30,000. Waldron Private Wealth LLC purchased a new position in STMicroelectronics during the 3rd quarter worth $34,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of STMicroelectronics by 144.2% in the 2nd 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 bought a new stake in shares of STMicroelectronics in the 2nd quarter worth $51,000. 5.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

STM has been the topic of several analyst reports. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Susquehanna reiterated a “positive” rating and set a $33.00 target price on shares of STMicroelectronics in a research note on Thursday, November 21st. Finally, Craig Hallum reduced their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, STMicroelectronics currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $25.40 on Thursday. The company has a 50-day moving average price of $27.36 and a two-hundred day moving average price of $33.59. STMicroelectronics has a twelve month low of $23.95 and a twelve month high of $51.27. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $22.94 billion, a PE ratio of 10.45, a P/E/G ratio of 3.13 and a beta of 1.57.

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 analysts’ consensus estimates of $0.33 by $0.04. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. STMicroelectronics’s revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. Equities analysts forecast that STMicroelectronics will post 1.64 EPS for the current year.

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.