Qube Research & Technologies Ltd Purchases Shares of 78,936 STMicroelectronics (NYSE:STM)

Qube Research & Technologies Ltd bought a new position in STMicroelectronics (NYSE:STM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 78,936 shares of the semiconductor producer’s stock, valued at approximately $2,872,000.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of STMicroelectronics by 47.1% in the second quarter. Bessemer Group Inc. now owns 806 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 258 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in shares of STMicroelectronics by 146.4% in the second quarter. Arkadios Wealth Advisors now owns 993 shares of the semiconductor producer’s stock worth $36,000 after purchasing an additional 590 shares during the last quarter. Ameritas Investment Company LLC bought a new stake in shares of STMicroelectronics in the first quarter worth about $83,000. Concord Wealth Partners increased its holdings in shares of STMicroelectronics by 8,200.0% in the first quarter. Concord Wealth Partners now owns 2,573 shares of the semiconductor producer’s stock worth $99,000 after purchasing an additional 2,542 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in STMicroelectronics by 26.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,857 shares of the semiconductor producer’s stock worth $110,000 after acquiring an additional 596 shares in the last quarter. 3.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:STM opened at $41.42 on Thursday. STMicroelectronics has a 1 year low of $30.16 and a 1 year high of $47.38. The business has a 50 day simple moving average of $43.77 and a two-hundred day simple moving average of $39.88. The firm has a market capitalization of $37.74 billion, a PE ratio of 24.08 and a beta of 1.46. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.43 and a quick ratio of 1.86.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, July 29th. The semiconductor producer reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.90 billion. STMicroelectronics had a return on equity of 19.06% and a net margin of 13.44%. During the same quarter in the previous year, the business earned $0.10 earnings per share. Equities research analysts expect that STMicroelectronics will post 1.91 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 28th. Investors of record on Tuesday, September 21st were issued a $0.06 dividend. The ex-dividend date was Monday, September 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.58%. STMicroelectronics’s payout ratio is 16.53%.

STM has been the subject of several recent research reports. Societe Generale reiterated a “buy” rating on shares of STMicroelectronics in a research report on Monday, August 2nd. upgraded STMicroelectronics to a “buy” rating and set a $39.00 price target for the company in a research report on Friday, July 9th. Zacks Investment Research upgraded STMicroelectronics from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Saturday, July 31st. Morgan Stanley reiterated an “overweight” rating on shares of STMicroelectronics in a research report on Monday, August 9th. Finally, Citigroup upgraded STMicroelectronics from a “neutral” rating to a “buy” rating in a research report on Friday, July 9th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $45.29.

STMicroelectronics Profile

STMicroelectronics NV designs, develops, manufactures and markets products, which offers discrete and standard commodity components, application-specific integrated circuits, full custom devices and semi-custom devices for analog, digital and mixed-signal applications. It operates through the following segments: Automotive and Discrete Group, Analog and MEMS Group, and Microcontrollers and Digital ICs Group.

Further Reading: What are popular green investing opportunities?

Want to see what other hedge funds are holding STM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STMicroelectronics (NYSE:STM).

Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.