Denali Advisors LLC Buys Shares of 13,934 STMicroelectronics (NYSE:STM)

Denali Advisors LLC bought a new stake in STMicroelectronics (NYSE:STM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,934 shares of the semiconductor producer’s stock, valued at approximately $348,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of STMicroelectronics by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after buying an additional 1,719,257 shares during the period. Two Sigma Advisers LP lifted its holdings 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 valued at $41,524,000 after buying an additional 1,216,300 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of STMicroelectronics in the 3rd quarter valued at approximately $4,158,000. Point72 Asset Management L.P. acquired a new stake in shares of STMicroelectronics in the 3rd quarter valued at approximately $1,924,000. Finally, Shariaportfolio Inc. acquired a new stake in shares of STMicroelectronics in the 4th quarter valued at approximately $1,584,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on STM shares. BNP Paribas started coverage on STMicroelectronics in a report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price target for the company. TD Cowen cut STMicroelectronics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $32.00 to $25.00 in a report on Monday, January 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. Morgan Stanley raised STMicroelectronics from an “underweight” rating to an “equal weight” rating in a report on Thursday, February 13th. Finally, Susquehanna reduced their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a report on Friday, January 31st. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.26.

STMicroelectronics Stock Performance

NYSE STM opened at $24.52 on Friday. STMicroelectronics has a fifty-two week low of $21.36 and a fifty-two week high of $49.05. The stock has a market cap of $22.15 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.51. The business has a fifty day moving average of $24.78 and a 200-day moving average of $26.78. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share 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, analysts predict that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

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.