Greenland Capital Management LP Buys New Holdings in STMicroelectronics N.V. $STM

Greenland Capital Management LP purchased a new stake in shares of STMicroelectronics N.V. (NYSE:STM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 143,874 shares of the semiconductor producer’s stock, valued at approximately $4,375,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of STMicroelectronics by 27.5% in the second quarter. CWM LLC now owns 2,680 shares of the semiconductor producer’s stock valued at $82,000 after purchasing an additional 578 shares in the last quarter. PNC Financial Services Group Inc. grew its position in STMicroelectronics by 5.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,930 shares of the semiconductor producer’s stock worth $284,000 after purchasing an additional 650 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in STMicroelectronics by 5.6% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 13,041 shares of the semiconductor producer’s stock worth $397,000 after purchasing an additional 697 shares in the last quarter. Gallacher Capital Management LLC increased its stake in STMicroelectronics by 5.0% in the 1st quarter. Gallacher Capital Management LLC now owns 14,746 shares of the semiconductor producer’s stock valued at $324,000 after buying an additional 702 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of STMicroelectronics by 63.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,167 shares of the semiconductor producer’s stock worth $48,000 after buying an additional 838 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Trading Down 1.7%

Shares of STM stock opened at $22.35 on Wednesday. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 4.59 and a beta of 1.67. The company’s fifty day simple moving average is $26.67 and its two-hundred day simple moving average is $27.29. STMicroelectronics N.V. has a 1 year low of $17.25 and a 1 year high of $33.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.22 and a quick ratio of 2.28.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Wednesday, November 5th. The semiconductor producer reported $0.29 earnings per share for the quarter. The company had revenue of $3.19 billion during the quarter. STMicroelectronics had a return on equity of 4.06% and a net margin of 4.55%. As a group, analysts anticipate that STMicroelectronics N.V. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

STM has been the subject of a number of research analyst reports. Cowen reaffirmed a “hold” rating on shares of STMicroelectronics in a research report on Friday, October 24th. The Goldman Sachs Group set a $26.50 target price on STMicroelectronics and gave the company a “neutral” rating in a research report on Friday, July 25th. BNP Paribas Exane upgraded STMicroelectronics from a “neutral” rating to an “outperform” rating and set a $31.00 target price on the stock in a research note on Thursday, September 4th. Robert W. Baird set a $45.00 price target on shares of STMicroelectronics in a research report on Friday, October 24th. Finally, Citigroup reiterated a “buy” rating on shares of STMicroelectronics in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.19.

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.