Novem Group Purchases New Position in STMicroelectronics (NYSE:STM)

Novem Group purchased a new stake in STMicroelectronics (NYSE:STM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 19,697 shares of the semiconductor producer’s stock, valued at approximately $492,000.

Several other large investors have also recently added to or reduced their stakes in STM. JPMorgan Chase & Co. increased its holdings in STMicroelectronics by 131.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,413,356 shares of the semiconductor producer’s stock valued at $85,232,000 after purchasing an additional 1,939,088 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in STMicroelectronics by 576.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,920,774 shares of the semiconductor producer’s stock valued at $47,962,000 after purchasing an additional 1,636,707 shares in the last quarter. Voloridge Investment Management LLC boosted its position in STMicroelectronics by 39.2% in the 4th quarter. Voloridge Investment Management LLC now owns 3,330,616 shares of the semiconductor producer’s stock valued at $83,165,000 after buying an additional 938,097 shares during the last quarter. Invesco Ltd. boosted its position in STMicroelectronics by 94.4% in the 4th quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer’s stock valued at $44,142,000 after buying an additional 858,624 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in STMicroelectronics by 19.4% in the 4th quarter. Two Sigma Investments LP now owns 4,475,384 shares of the semiconductor producer’s stock valued at $111,750,000 after buying an additional 725,684 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America cut shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a research report on Friday, April 25th. Dbs Bank cut shares of STMicroelectronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. TD Cowen increased their price target on shares of STMicroelectronics from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, April 25th. Finally, Morgan Stanley raised shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, STMicroelectronics has an average rating of “Hold” and an average target price of $30.97.

STMicroelectronics Stock Performance

Shares of NYSE STM opened at $25.21 on Friday. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $22.58 and its two-hundred day moving average price is $24.27. STMicroelectronics has a 52-week low of $17.25 and a 52-week high of $45.39. The stock has a market capitalization of $22.64 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.16 and a beta of 1.53.

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

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.