Ardsley Advisory Partners Has $6.12 Million Holdings in STMicroelectronics N.V. (STM)
Ardsley Advisory Partners boosted its stake in shares of STMicroelectronics N.V. (NYSE:STM) by 11.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 425,000 shares of the semiconductor producer’s stock after acquiring an additional 45,000 shares during the quarter. Ardsley Advisory Partners’ holdings in STMicroelectronics N.V. were worth $6,120,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE increased its stake in STMicroelectronics N.V. by 433.7% during the first quarter. Bank of America Corp DE now owns 519,711 shares of the semiconductor producer’s stock worth $8,035,000 after acquiring an additional 422,337 shares during the last quarter. Airain ltd bought a new stake in STMicroelectronics N.V. during the second quarter worth approximately $1,082,000. US Bancorp DE increased its stake in STMicroelectronics N.V. by 171.0% during the second quarter. US Bancorp DE now owns 521,292 shares of the semiconductor producer’s stock worth $7,495,000 after acquiring an additional 328,911 shares during the last quarter. Jane Street Group LLC increased its stake in STMicroelectronics N.V. by 74.8% during the first quarter. Jane Street Group LLC now owns 146,237 shares of the semiconductor producer’s stock worth $2,261,000 after acquiring an additional 62,592 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in STMicroelectronics N.V. by 1,137.8% during the first quarter. JPMorgan Chase & Co. now owns 117,885 shares of the semiconductor producer’s stock worth $1,822,000 after acquiring an additional 108,361 shares during the last quarter. 5.35% of the stock is currently owned by institutional investors.
STMicroelectronics N.V. (NYSE STM) traded up 0.05% on Tuesday, hitting $20.11. The stock had a trading volume of 1,689,845 shares. The stock has a market cap of $17.85 billion, a PE ratio of 41.12 and a beta of 0.70. The firm’s 50 day moving average price is $18.98 and its 200-day moving average price is $16.75. STMicroelectronics N.V. has a 12 month low of $7.87 and a 12 month high of $20.19.
STMicroelectronics N.V. (NYSE:STM) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, analysts forecast that STMicroelectronics N.V. will post $0.82 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 26th. Stockholders of record on Tuesday, September 19th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, September 18th. STMicroelectronics N.V.’s payout ratio is presently 40.00%.
STMicroelectronics N.V. announced that its board has approved a stock buyback plan on Thursday, June 22nd that permits the company to buyback $297.00 million in outstanding shares. This buyback authorization permits the semiconductor producer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.
Several brokerages have weighed in on STM. Craig Hallum reissued a “buy” rating on shares of STMicroelectronics N.V. in a research note on Wednesday, September 13th. Zacks Investment Research cut STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub raised STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. J P Morgan Chase & Co raised STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating and cut their target price for the company from $14.84 to $14.50 in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target 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.
Receive News & Ratings for STMicroelectronics N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics N.V. and related companies with Analyst Ratings Network's FREE daily email newsletter.