Quadrant Capital Group LLC Raises Position in STMicroelectronics N.V. (STM)
Quadrant Capital Group LLC increased its position in STMicroelectronics N.V. (NYSE:STM) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,105 shares of the semiconductor producer’s stock after purchasing an additional 433 shares during the quarter. Quadrant Capital Group LLC’s holdings in STMicroelectronics N.V. were worth $127,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its position in STMicroelectronics N.V. by 17.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 7,734,651 shares of the semiconductor producer’s stock worth $111,224,000 after purchasing an additional 1,151,164 shares during the period. Renaissance Technologies LLC lifted its position in STMicroelectronics N.V. by 362.4% in the first quarter. Renaissance Technologies LLC now owns 5,299,919 shares of the semiconductor producer’s stock worth $81,713,000 after purchasing an additional 4,153,795 shares during the period. Acadian Asset Management LLC lifted its position in STMicroelectronics N.V. by 21.4% in the second quarter. Acadian Asset Management LLC now owns 4,624,153 shares of the semiconductor producer’s stock worth $66,495,000 after purchasing an additional 816,194 shares during the period. Sensato Investors LLC lifted its position in STMicroelectronics N.V. by 17.2% in the second quarter. Sensato Investors LLC now owns 1,941,246 shares of the semiconductor producer’s stock worth $27,915,000 after purchasing an additional 285,200 shares during the period. Finally, Quentec Asset Management LLC lifted its position in STMicroelectronics N.V. by 121.7% in the second quarter. Quentec Asset Management LLC now owns 1,835,373 shares of the semiconductor producer’s stock worth $26,393,000 after purchasing an additional 1,007,467 shares during the period. 5.35% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on STM shares. BidaskClub cut STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research cut STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Stifel Nicolaus raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating and cut their price objective for the company from $14.84 to $14.50 in a report on Tuesday, June 27th. J P Morgan Chase & Co raised STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 11th. Finally, Craig Hallum reissued a “buy” rating on shares of STMicroelectronics N.V. in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. STMicroelectronics N.V. currently has an average rating of “Buy” and an average price target of $18.38.
Shares of STMicroelectronics N.V. (STM) traded down 0.40% on Thursday, hitting $19.94. The company’s stock had a trading volume of 1,187,759 shares. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 40.78 and a beta of 0.70. STMicroelectronics N.V. has a 52 week low of $7.83 and a 52 week high of $20.05. The stock’s 50-day moving average price is $18.76 and its 200-day moving average price is $16.68.
STMicroelectronics N.V. (NYSE:STM) last released its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. Equities analysts expect that STMicroelectronics N.V. will post $0.82 earnings per share for the current fiscal year.
STMicroelectronics N.V. announced that its Board of Directors has authorized a stock repurchase program on Thursday, June 22nd that allows the company to buyback $297.00 million in shares. This buyback authorization allows the semiconductor producer to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 26th. Investors of record on Tuesday, September 19th were given a dividend of $0.06 per share. The ex-dividend date was Monday, September 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.20%. STMicroelectronics N.V.’s dividend payout ratio is currently 40.00%.
STMicroelectronics N.V. Company Profile
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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