Greenland Capital Management LP Makes New Investment in STMicroelectronics N.V. $STM

Greenland Capital Management LP purchased a new position in shares of STMicroelectronics N.V. (NYSE:STM) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 143,874 shares of the semiconductor producer’s stock, valued at approximately $4,375,000.

A number of other hedge funds have also added to or reduced their stakes in STM. Acadian Asset Management LLC lifted its stake in STMicroelectronics by 148.4% during the first quarter. Acadian Asset Management LLC now owns 5,650,244 shares of the semiconductor producer’s stock worth $124,055,000 after purchasing an additional 3,375,428 shares during the last quarter. Invesco Ltd. boosted its stake in STMicroelectronics by 188.1% in the first quarter. Invesco Ltd. now owns 5,093,785 shares of the semiconductor producer’s stock valued at $111,860,000 after buying an additional 3,325,998 shares in the last quarter. Analog Century Management LP acquired a new position in STMicroelectronics during the first quarter worth about $34,912,000. Junto Capital Management LP bought a new position in shares of STMicroelectronics in the first quarter worth about $30,565,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of STMicroelectronics by 59.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,451,052 shares of the semiconductor producer’s stock valued at $53,825,000 after purchasing an additional 918,263 shares in the last quarter. 5.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BNP Paribas upgraded shares of STMicroelectronics from a “hold” rating to an “outperform” rating in a research report on Thursday, September 4th. Baird R W upgraded STMicroelectronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 22nd. Weiss Ratings downgraded STMicroelectronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research report on Friday, October 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, STMicroelectronics has a consensus rating of “Hold” and a consensus price target of $31.19.

STMicroelectronics Stock Performance

Shares of STMicroelectronics stock opened at $22.35 on Wednesday. The business has a 50-day moving average price of $26.67 and a two-hundred day moving average price of $27.29. STMicroelectronics N.V. has a 1-year low of $17.25 and a 1-year high of $33.47. The company has a current ratio of 3.22, a quick ratio of 2.28 and a debt-to-equity ratio of 0.11. The company has a market cap of $20.08 billion, a P/E ratio of 38.54, a PEG ratio of 4.59 and a beta of 1.67.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Wednesday, November 5th. The semiconductor producer reported $0.29 earnings per share (EPS) for the quarter. STMicroelectronics had a return on equity of 4.06% and a net margin of 4.55%.The company had revenue of $3.19 billion for the quarter. As a group, analysts anticipate that STMicroelectronics N.V. will post 0.85 EPS for the current year.

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.