STMicroelectronics (NYSE:STM) Shares Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC increased its holdings in shares of STMicroelectronics (NYSE:STM) by 39.2% during the fourth quarter, HoldingsChannel reports. The fund owned 3,330,616 shares of the semiconductor producer’s stock after buying an additional 938,097 shares during the period. Voloridge Investment Management LLC’s holdings in STMicroelectronics were worth $83,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STM. Crossmark Global Holdings Inc. grew its holdings in STMicroelectronics by 1.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 65,561 shares of the semiconductor producer’s stock worth $1,637,000 after acquiring an additional 749 shares during the period. Blue Trust Inc. boosted its position in STMicroelectronics by 15.4% during the fourth quarter. Blue Trust Inc. now owns 11,159 shares of the semiconductor producer’s stock worth $279,000 after purchasing an additional 1,491 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in STMicroelectronics during the fourth quarter worth $1,365,000. Crews Bank & Trust purchased a new stake in STMicroelectronics during the fourth quarter worth $70,000. Finally, Clear Creek Financial Management LLC purchased a new stake in STMicroelectronics during the fourth quarter worth $468,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Price Performance

STM stock opened at $25.84 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. STMicroelectronics has a 1 year low of $17.25 and a 1 year high of $45.39. The firm has a market cap of $23.21 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. The stock has a 50-day simple moving average of $22.54 and a 200-day simple moving average of $24.26.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on STM shares. Sanford C. Bernstein downgraded STMicroelectronics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $33.00 to $26.00 in a research report on Wednesday, February 5th. Susquehanna decreased their target price on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a research report on Friday, January 31st. Bank of America downgraded STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Dbs Bank downgraded STMicroelectronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research report on Friday, April 25th. One research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.97.

STMicroelectronics Company 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.