Dynamic Capital Management Ltd Invests $328,000 in STMicroelectronics NV (NYSE:STM)
Dynamic Capital Management Ltd acquired a new position in shares of STMicroelectronics NV (NYSE:STM) during the first quarter, HoldingsChannel reports. The fund acquired 22,071 shares of the semiconductor producer’s stock, valued at approximately $328,000. STMicroelectronics accounts for approximately 1.2% of Dynamic Capital Management Ltd’s portfolio, making the stock its 27th largest holding.
Several other hedge funds also recently added to or reduced their stakes in STM. Amundi Pioneer Asset Management Inc. bought a new position in STMicroelectronics in the 1st quarter valued at $7,630,000. Northern Trust Corp boosted its holdings in STMicroelectronics by 8.3% in the 1st quarter. Northern Trust Corp now owns 446,236 shares of the semiconductor producer’s stock valued at $6,626,000 after purchasing an additional 34,300 shares during the period. OppenheimerFunds Inc. bought a new position in STMicroelectronics in the 1st quarter valued at $7,273,000. MML Investors Services LLC bought a new position in STMicroelectronics in the 1st quarter valued at $199,000. Finally, Federated Investors Inc. PA boosted its holdings in STMicroelectronics by 188,796.1% in the 1st quarter. Federated Investors Inc. PA now owns 289,011 shares of the semiconductor producer’s stock valued at $4,292,000 after purchasing an additional 288,858 shares during the period. 3.53% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on STM. Zacks Investment Research raised shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Saturday, April 27th. ValuEngine raised shares of STMicroelectronics from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. UBS Group reaffirmed a “hold” rating and set a $14.00 price objective on shares of STMicroelectronics in a report on Wednesday, April 10th. Cowen initiated coverage on shares of STMicroelectronics in a report on Friday, February 22nd. They set an “outperform” rating and a $21.00 price objective for the company. Finally, Credit Suisse Group reissued a “buy” rating and issued a $19.00 price target on shares of STMicroelectronics in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.84.
STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Wednesday, April 24th. The semiconductor producer reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.13 billion. STMicroelectronics had a return on equity of 19.85% and a net margin of 12.89%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, equities analysts anticipate that STMicroelectronics NV will post 1.06 EPS for the current fiscal year.
STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.
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