ABC Arbitrage SA Buys 33,735 Shares of STMicroelectronics N.V. $STM

ABC Arbitrage SA lifted its holdings in STMicroelectronics N.V. (NYSE:STM) by 35.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,586 shares of the semiconductor producer’s stock after purchasing an additional 33,735 shares during the quarter. ABC Arbitrage SA’s holdings in STMicroelectronics were worth $3,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in STM. Allworth Financial LP boosted its holdings in shares of STMicroelectronics by 59.0% during the 1st quarter. Allworth Financial LP now owns 3,825 shares of the semiconductor producer’s stock valued at $89,000 after purchasing an additional 1,420 shares during the last quarter. Ballentine Partners LLC grew its stake in STMicroelectronics by 16.0% in the 1st quarter. Ballentine Partners LLC now owns 11,654 shares of the semiconductor producer’s stock worth $256,000 after acquiring an additional 1,604 shares in the last quarter. New York State Common Retirement Fund purchased a new position in STMicroelectronics during the 1st quarter worth $2,994,000. Schechter Investment Advisors LLC raised its holdings in shares of STMicroelectronics by 43.0% in the first quarter. Schechter Investment Advisors LLC now owns 43,428 shares of the semiconductor producer’s stock valued at $954,000 after acquiring an additional 13,060 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in STMicroelectronics by 57.2% in the first quarter. SBI Securities Co. Ltd. now owns 3,322 shares of the semiconductor producer’s stock worth $73,000 after buying an additional 1,209 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on STM. Robert W. Baird set a $45.00 price target on shares of STMicroelectronics in a research note on Friday, October 24th. TD Cowen dropped their price objective on shares of STMicroelectronics from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, October 24th. Susquehanna upped their price target on shares of STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Cowen reiterated a “hold” rating on shares of STMicroelectronics in a research note on Friday, October 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of STMicroelectronics in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, STMicroelectronics has an average rating of “Hold” and a consensus target price of $31.19.

STMicroelectronics Stock Down 0.2%

STM stock opened at $23.68 on Wednesday. STMicroelectronics N.V. has a one year low of $17.25 and a one year high of $33.47. The firm has a market cap of $21.27 billion, a PE ratio of 40.82, a PEG ratio of 4.59 and a beta of 1.67. The firm’s 50 day moving average price is $26.98 and its 200-day moving average price is $27.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.28 and a current ratio of 3.22.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Wednesday, November 5th. The semiconductor producer reported $0.29 earnings per share (EPS) for the quarter. The firm had revenue of $3.19 billion for the quarter. STMicroelectronics had a return on equity of 4.06% and a net margin of 4.55%. On average, equities research 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.