Brandes Investment Partners LP Invests $15.57 Million in STMicroelectronics (NYSE:STM)

Brandes Investment Partners LP bought a new position in STMicroelectronics (NYSE:STM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 623,529 shares of the semiconductor producer’s stock, valued at approximately $15,570,000. Brandes Investment Partners LP owned approximately 0.07% of STMicroelectronics at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in STM. Two Sigma Advisers LP grew its position in shares of STMicroelectronics by 674.2% in the 3rd quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock worth $41,524,000 after acquiring an additional 1,216,300 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of STMicroelectronics in the 4th quarter worth approximately $1,738,000. Point72 Asset Management L.P. acquired a new position in shares of STMicroelectronics in the 3rd quarter worth approximately $1,924,000. Shariaportfolio Inc. acquired a new position in shares of STMicroelectronics in the 4th quarter worth approximately $1,584,000. Finally, ABC Arbitrage SA acquired a new position in shares of STMicroelectronics in the 4th quarter worth approximately $1,543,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Trading Up 3.9 %

Shares of STM stock opened at $24.86 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. STMicroelectronics has a 1 year low of $21.36 and a 1 year high of $45.64. The stock has a fifty day moving average of $24.75 and a two-hundred day moving average of $26.34. The firm has a market capitalization of $22.45 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, research analysts expect that STMicroelectronics will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Susquehanna reduced their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research report on Friday, January 31st. Barclays lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Bank of America lowered STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. BNP Paribas assumed coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price objective for the company. Finally, TD Cowen lowered STMicroelectronics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $32.00 to $25.00 in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.26.

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.