Freestone Grove Partners LP Takes $5.35 Million Position in STMicroelectronics (NYSE:STM)

Freestone Grove Partners LP purchased a new position in shares of STMicroelectronics (NYSE:STM) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 214,366 shares of the semiconductor producer’s stock, valued at approximately $5,353,000.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after buying an additional 531 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in STMicroelectronics during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC raised its stake in STMicroelectronics by 225.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock worth $33,000 after purchasing an additional 921 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in STMicroelectronics by 197.0% in the 4th quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock valued at $44,000 after purchasing an additional 1,180 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of STMicroelectronics during the 4th quarter worth approximately $53,000. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Trading Up 3.1 %

STM opened at $23.45 on Friday. The company has a market cap of $21.06 billion, a P/E ratio of 14.13, a PEG ratio of 1.16 and a beta of 1.56. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $22.64 and its 200-day moving average is $24.54. STMicroelectronics has a 1-year low of $17.25 and a 1-year high of $45.39.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.55 billion. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. Equities research analysts predict that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Susquehanna cut their price target on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research note on Friday, January 31st. Morgan Stanley upgraded STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. Dbs Bank cut STMicroelectronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Sanford C. Bernstein cut shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Finally, Bank of America lowered shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, STMicroelectronics has a consensus rating of “Hold” and a consensus price target of $30.97.

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.