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.

Institutional Ownership by Quarter for STMicroelectronics N.V. (NYSE:STM)

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