Driehaus Capital Management LLC Invests $175,000 in STMicroelectronics N.V. (STM)
Driehaus Capital Management LLC purchased a new position in STMicroelectronics N.V. (NYSE:STM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,288 shares of the semiconductor producer’s stock, valued at approximately $175,000.
Several other large investors have also added to or reduced their stakes in STM. HL Financial Services LLC raised its stake in shares of STMicroelectronics N.V. by 0.5% in the first quarter. HL Financial Services LLC now owns 26,281 shares of the semiconductor producer’s stock worth $406,000 after buying an additional 129 shares in the last quarter. Bank of Montreal Can raised its stake in shares of STMicroelectronics N.V. by 1.3% in the first quarter. Bank of Montreal Can now owns 29,608 shares of the semiconductor producer’s stock worth $458,000 after buying an additional 376 shares in the last quarter. Comerica Bank raised its stake in shares of STMicroelectronics N.V. by 1.4% in the first quarter. Comerica Bank now owns 52,343 shares of the semiconductor producer’s stock worth $814,000 after buying an additional 729 shares in the last quarter. World Asset Management Inc raised its stake in shares of STMicroelectronics N.V. by 1.4% in the first quarter. World Asset Management Inc now owns 56,729 shares of the semiconductor producer’s stock worth $877,000 after buying an additional 809 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of STMicroelectronics N.V. by 20.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,607 shares of the semiconductor producer’s stock worth $119,000 after buying an additional 1,771 shares in the last quarter. 5.06% of the stock is currently owned by institutional investors.
STMicroelectronics N.V. (NYSE STM) traded up 1.22% during mid-day trading on Thursday, reaching $17.37. The company had a trading volume of 3,279,968 shares. The stock has a 50-day moving average of $15.60 and a 200 day moving average of $15.28. STMicroelectronics N.V. has a 12-month low of $6.97 and a 12-month high of $17.44. The company has a market capitalization of $15.82 billion, a price-to-earnings ratio of 91.42 and a beta of 0.66.
STMicroelectronics N.V. (NYSE:STM) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.01. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the firm posted $0.03 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that STMicroelectronics N.V. will post $0.81 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Tuesday, June 27th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, June 23rd. STMicroelectronics N.V.’s dividend payout ratio (DPR) is 40.00%.
STMicroelectronics N.V. announced that its board has authorized a stock repurchase program on Thursday, June 22nd that authorizes the company to repurchase $297.00 million in shares. This repurchase authorization authorizes the semiconductor producer to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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A number of research analysts have weighed in on the company. Zacks Investment Research downgraded STMicroelectronics N.V. from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. Stifel Nicolaus downgraded STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. BidaskClub upgraded STMicroelectronics N.V. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Craig Hallum restated a “buy” rating and issued a $20.00 price target on shares of STMicroelectronics N.V. in a research note on Thursday, April 27th. Finally, J P Morgan Chase & Co upgraded STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $18.38.
About STMicroelectronics N.V.
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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