ABC Arbitrage SA Makes New $1.54 Million Investment in STMicroelectronics (NYSE:STM)

ABC Arbitrage SA bought a new position in STMicroelectronics (NYSE:STM) in the 4th quarter, Holdings Channel reports. The firm bought 61,809 shares of the semiconductor producer’s stock, valued at approximately $1,543,000.

Other hedge funds have also made changes to their positions in the company. Creative Planning raised its position in shares of STMicroelectronics by 10.9% in the 3rd quarter. Creative Planning now owns 66,113 shares of the semiconductor producer’s stock worth $1,966,000 after acquiring an additional 6,509 shares in the last quarter. Naviter Wealth LLC raised its position in shares of STMicroelectronics by 25.5% in the 3rd quarter. Naviter Wealth LLC now owns 13,945 shares of the semiconductor producer’s stock worth $416,000 after acquiring an additional 2,833 shares in the last quarter. Inspire Advisors LLC raised its position in shares of STMicroelectronics by 21.5% in the 3rd quarter. Inspire Advisors LLC now owns 15,760 shares of the semiconductor producer’s stock worth $469,000 after acquiring an additional 2,790 shares in the last quarter. Blue Trust Inc. raised its position in shares of STMicroelectronics by 65.2% in the 3rd quarter. Blue Trust Inc. now owns 9,668 shares of the semiconductor producer’s stock worth $287,000 after acquiring an additional 3,814 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of STMicroelectronics by 25.3% in the 3rd quarter. Raymond James & Associates now owns 192,372 shares of the semiconductor producer’s stock worth $5,719,000 after acquiring an additional 38,874 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Stock Up 2.3 %

STMicroelectronics stock opened at $24.46 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The business’s 50-day simple moving average is $24.71 and its two-hundred day simple moving average is $27.04. The company has a market cap of $22.09 billion, a PE ratio of 14.73, a PEG ratio of 0.97 and a beta of 1.51. STMicroelectronics has a fifty-two week low of $21.36 and a fifty-two week high of $49.05.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, topping 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%. Equities analysts anticipate that STMicroelectronics will post 0.82 EPS 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 $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.47%. STMicroelectronics’s payout ratio is 18.67%.

Analysts Set New Price Targets

Several research analysts have recently commented on STM shares. Barclays lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Craig Hallum reduced their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Robert W. Baird reduced their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Morgan Stanley raised STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday. Finally, BNP Paribas assumed coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.26.

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.