Voloridge Investment Management LLC Boosts Position in STMicroelectronics (NYSE:STM)

Voloridge Investment Management LLC increased its holdings in shares of STMicroelectronics (NYSE:STM) by 39.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,330,616 shares of the semiconductor producer’s stock after purchasing an additional 938,097 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.37% of STMicroelectronics worth $83,165,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its stake in STMicroelectronics by 14.5% during the fourth quarter. Deutsche Bank AG now owns 3,682 shares of the semiconductor producer’s stock worth $92,000 after purchasing an additional 466 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in STMicroelectronics by 4.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,280 shares of the semiconductor producer’s stock valued at $307,000 after buying an additional 539 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in STMicroelectronics by 16.0% in the fourth quarter. Russell Investments Group Ltd. now owns 5,069 shares of the semiconductor producer’s stock valued at $127,000 after buying an additional 700 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in STMicroelectronics by 1.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 65,561 shares of the semiconductor producer’s stock valued at $1,637,000 after buying an additional 749 shares during the last quarter. Finally, Callan Capital LLC lifted its stake in STMicroelectronics by 11.9% in the fourth quarter. Callan Capital LLC now owns 8,572 shares of the semiconductor producer’s stock valued at $214,000 after buying an additional 913 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on STM. Dbs Bank cut STMicroelectronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Sanford C. Bernstein cut STMicroelectronics from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $33.00 to $26.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of STMicroelectronics in a research note on Friday, April 25th. Susquehanna reduced their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research note on Friday, January 31st. Finally, Bank of America cut STMicroelectronics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.97.

STMicroelectronics Trading Up 0.1%

NYSE:STM opened at $25.84 on Tuesday. The firm has a market cap of $23.21 billion, a P/E ratio of 15.57, a PEG ratio of 1.16 and a beta of 1.53. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $22.54 and its 200-day simple moving average is $24.26. STMicroelectronics has a 12-month low of $17.25 and a 12-month high of $45.39.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.55 billion. Equities analysts anticipate that STMicroelectronics will post 0.85 EPS 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.