STMicroelectronics (NYSE:STM) Shares Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd lifted its stake in shares of STMicroelectronics (NYSE:STM) by 337.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 510,834 shares of the semiconductor producer’s stock after purchasing an additional 394,147 shares during the period. Quadrature Capital Ltd owned 0.06% of STMicroelectronics worth $25,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp raised its position in STMicroelectronics by 13.7% in the fourth quarter. Van ECK Associates Corp now owns 3,735,524 shares of the semiconductor producer’s stock valued at $187,262,000 after purchasing an additional 448,978 shares during the period. Capital International Investors grew its stake in shares of STMicroelectronics by 6.0% during the fourth quarter. Capital International Investors now owns 3,058,401 shares of the semiconductor producer’s stock worth $153,593,000 after purchasing an additional 172,399 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of STMicroelectronics by 5.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after purchasing an additional 120,399 shares in the last quarter. Rafferty Asset Management LLC grew its stake in shares of STMicroelectronics by 8.7% during the fourth quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock worth $80,991,000 after purchasing an additional 129,772 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of STMicroelectronics by 16.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock worth $38,572,000 after purchasing an additional 109,477 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STM has been the subject of several research analyst reports. HSBC initiated coverage on shares of STMicroelectronics in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Susquehanna reiterated a “positive” rating and set a $55.00 target price on shares of STMicroelectronics in a research note on Monday, April 8th. The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and increased their target price for the stock from $35.50 to $45.80 in a research note on Tuesday. Finally, StockNews.com raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.76.

STMicroelectronics Stock Performance

Shares of STM stock opened at $43.08 on Tuesday. The company’s fifty day simple moving average is $41.62 and its 200-day simple moving average is $44.42. STMicroelectronics has a 52 week low of $37.21 and a 52 week high of $55.85. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17. The company has a market cap of $38.89 billion, a PE ratio of 11.05, a P/E/G ratio of 3.99 and a beta of 1.62.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.05). STMicroelectronics had a return on equity of 22.95% and a net margin of 22.30%. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period last year, the firm earned $1.10 EPS. The business’s quarterly revenue was down 18.4% on a year-over-year basis. As a group, equities research analysts anticipate that STMicroelectronics will post 2.13 EPS for the current year.

STMicroelectronics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be paid a dividend of $0.09 per share. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 25th. This represents a $0.36 annualized dividend and a yield of 0.84%. STMicroelectronics’s payout ratio is 5.13%.

About STMicroelectronics

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.