Arrowstreet Capital Limited Partnership Buys New Holdings in STMicroelectronics N.V. $STM

Arrowstreet Capital Limited Partnership purchased a new position in STMicroelectronics N.V. (NYSE:STM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,926,778 shares of the semiconductor producer’s stock, valued at approximately $58,593,000. Arrowstreet Capital Limited Partnership owned 0.21% of STMicroelectronics at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in STM. M&T Bank Corp bought a new stake in shares of STMicroelectronics during the second quarter valued at approximately $303,000. Lido Advisors LLC bought a new position in shares of STMicroelectronics during the second quarter worth $370,000. New York State Common Retirement Fund grew its stake in STMicroelectronics by 17.8% during the second quarter. New York State Common Retirement Fund now owns 160,629 shares of the semiconductor producer’s stock valued at $4,885,000 after acquiring an additional 24,302 shares in the last quarter. West Family Investments Inc. bought a new stake in STMicroelectronics in the 2nd quarter valued at $391,000. Finally, Mackenzie Financial Corp lifted its stake in STMicroelectronics by 7.5% in the 2nd quarter. Mackenzie Financial Corp now owns 229,052 shares of the semiconductor producer’s stock worth $6,965,000 after purchasing an additional 15,961 shares in the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Trading Down 0.7%

Shares of NYSE STM opened at $25.62 on Friday. STMicroelectronics N.V. has a fifty-two week low of $17.25 and a fifty-two week high of $33.47. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.28 and a current ratio of 3.22. The company has a market cap of $23.01 billion, a price-to-earnings ratio of 44.17, a PEG ratio of 4.80 and a beta of 1.56. The business’s 50 day moving average price is $25.62 and its 200-day moving average price is $27.13.

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 company had revenue of $3.19 billion during the quarter. STMicroelectronics had a return on equity of 4.06% and a net margin of 4.55%. On average, sell-side analysts expect that STMicroelectronics N.V. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

STM has been the subject of a number of research analyst reports. Mizuho started coverage on STMicroelectronics in a research report on Tuesday, November 25th. They set a “neutral” rating and a $22.00 price objective for the company. Susquehanna raised their price target on STMicroelectronics from $35.00 to $40.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Robert W. Baird set a $45.00 price objective on STMicroelectronics in a research note on Friday, October 24th. Barclays reaffirmed an “underweight” rating on shares of STMicroelectronics in a report on Tuesday, September 16th. Finally, BNP Paribas Exane upgraded STMicroelectronics from a “neutral” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.44.

STMicroelectronics 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.