Point72 Hong Kong Ltd Invests $1.42 Million in STMicroelectronics (NYSE:STM)

Point72 Hong Kong Ltd bought a new stake in STMicroelectronics (NYSE:STM) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 47,900 shares of the semiconductor producer’s stock, valued at approximately $1,424,000.

Several other hedge funds have also modified their holdings of STM. Aigen Investment Management LP acquired a new stake in STMicroelectronics in the third quarter valued at approximately $1,157,000. Washington Capital Management Inc. purchased a new position in shares of STMicroelectronics in the third quarter valued at $1,112,000. Jane Street Group LLC grew its holdings in STMicroelectronics by 153.8% during the 1st quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after purchasing an additional 108,152 shares in the last quarter. American Century Companies Inc. increased its stake in STMicroelectronics by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 469,669 shares of the semiconductor producer’s stock worth $18,449,000 after buying an additional 28,846 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new position in STMicroelectronics in the 3rd quarter worth $7,642,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STM has been the topic of a number of analyst reports. Susquehanna reaffirmed a “positive” rating and set a $33.00 target price on shares of STMicroelectronics in a research report on Thursday, November 21st. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Robert W. Baird cut their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Craig Hallum cut their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Trading Up 0.4 %

STMicroelectronics stock opened at $25.50 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. STMicroelectronics has a 1 year low of $23.95 and a 1 year high of $51.27. The firm’s 50-day moving average is $27.19 and its 200-day moving average is $33.31. The company has a market cap of $23.04 billion, a P/E ratio of 10.49, a PEG ratio of 3.10 and a beta of 1.57.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. STMicroelectronics’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, equities analysts expect that STMicroelectronics will post 1.64 earnings per share for the current year.

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.