Campbell & CO Investment Adviser LLC purchased a new stake in STMicroelectronics N.V. (NYSE:STM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,686 shares of the semiconductor producer’s stock, valued at approximately $226,000.
A number of other large investors have also recently made changes to their positions in the company. Bank of America Corp DE raised its stake in STMicroelectronics N.V. by 433.7% in the first quarter. Bank of America Corp DE now owns 519,711 shares of the semiconductor producer’s stock worth $8,035,000 after buying an additional 422,337 shares during the period. Capital Fund Management S.A. bought a new stake in STMicroelectronics N.V. during the first quarter worth about $1,439,000. Highbridge Capital Management LLC bought a new stake in STMicroelectronics N.V. during the first quarter worth about $23,004,000. Highland Capital Management LLC raised its stake in STMicroelectronics N.V. by 1.6% in the first quarter. Highland Capital Management LLC now owns 226,127 shares of the semiconductor producer’s stock worth $3,496,000 after buying an additional 3,630 shares during the period. Finally, Advisory Services Network LLC bought a new stake in STMicroelectronics N.V. during the first quarter worth about $1,048,000. Institutional investors own 5.08% of the company’s stock.
Shares of STMicroelectronics N.V. (STM) traded up 0.61% on Friday, reaching $16.62. The company had a trading volume of 3,959,614 shares. STMicroelectronics N.V. has a 52-week low of $7.24 and a 52-week high of $17.46. The firm has a market capitalization of $14.76 billion, a PE ratio of 33.99 and a beta of 0.66. The company has a 50-day moving average price of $15.99 and a 200-day moving average price of $15.51.
STMicroelectronics N.V. (NYSE:STM) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Equities research analysts forecast that STMicroelectronics N.V. will post $0.82 EPS for the current fiscal year.
STMicroelectronics N.V. declared that its board has approved a share repurchase program on Thursday, June 22nd that allows the company to repurchase $297.00 million in outstanding shares. This repurchase authorization allows the semiconductor producer to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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STM has been the subject of a number of recent research reports. BidaskClub lowered STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Stifel Nicolaus upgraded STMicroelectronics N.V. from a “hold” rating to a “buy” rating and lowered their target price for the company from $14.84 to $14.50 in a research note on Tuesday, June 27th. Craig Hallum reiterated a “buy” rating and issued a $20.00 target price on shares of STMicroelectronics N.V. in a research note on Thursday, April 27th. Zacks Investment Research lowered STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Robert W. Baird increased their target price on STMicroelectronics N.V. from $15.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.38.
STMicroelectronics N.V. Company Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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