Sensato Investors LLC Has $27.92 Million Holdings in STMicroelectronics N.V. (STM)
Sensato Investors LLC raised its stake in STMicroelectronics N.V. (NYSE:STM) by 17.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,941,246 shares of the semiconductor producer’s stock after buying an additional 285,200 shares during the quarter. STMicroelectronics N.V. comprises about 7.1% of Sensato Investors LLC’s portfolio, making the stock its biggest holding. Sensato Investors LLC owned about 0.22% of STMicroelectronics N.V. worth $27,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of STM. Renaissance Technologies LLC increased its stake in STMicroelectronics N.V. by 362.4% during the first quarter. Renaissance Technologies LLC now owns 5,299,919 shares of the semiconductor producer’s stock worth $81,713,000 after purchasing an additional 4,153,795 shares during the period. Acadian Asset Management LLC increased its stake in STMicroelectronics N.V. by 21.4% during the second quarter. Acadian Asset Management LLC now owns 4,624,153 shares of the semiconductor producer’s stock worth $66,495,000 after purchasing an additional 816,194 shares during the period. Quentec Asset Management LLC increased its stake in STMicroelectronics N.V. by 121.7% during the second quarter. Quentec Asset Management LLC now owns 1,835,373 shares of the semiconductor producer’s stock worth $26,393,000 after purchasing an additional 1,007,467 shares during the period. Highbridge Capital Management LLC purchased a new stake in STMicroelectronics N.V. during the first quarter worth about $23,004,000. Finally, FMR LLC increased its stake in STMicroelectronics N.V. by 2.4% during the second quarter. FMR LLC now owns 1,452,766 shares of the semiconductor producer’s stock worth $20,890,000 after purchasing an additional 34,106 shares during the period. 5.33% of the stock is currently owned by institutional investors.
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A number of analysts have issued reports on STM shares. Stifel Nicolaus upgraded shares of STMicroelectronics N.V. from a “hold” rating to a “buy” rating and cut their price target for the stock from $14.84 to $14.50 in a research note on Tuesday, June 27th. BidaskClub lowered shares of STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. J P Morgan Chase & Co upgraded shares of STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of STMicroelectronics N.V. from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research note on Saturday, July 29th. Finally, Craig Hallum reiterated a “buy” rating on shares of STMicroelectronics N.V. in a research note on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $18.38.
Shares of STMicroelectronics N.V. (NYSE:STM) traded down 1.233% during mid-day trading on Thursday, reaching $19.704. 1,520,981 shares of the company’s stock were exchanged. STMicroelectronics N.V. has a 52 week low of $7.81 and a 52 week high of $20.04. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 40.294 and a beta of 0.70. The stock has a 50 day moving average price of $18.33 and a 200 day moving average price of $16.52. STMicroelectronics N.V. also was the target of some unusual options trading on Wednesday. Investors bought 16,299 call options on the stock. This represents an increase of 597% compared to the average volume of 2,340 call options.
STMicroelectronics N.V. (NYSE:STM) last announced its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company 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 business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 earnings per share. Equities research analysts predict that STMicroelectronics N.V. will post $0.82 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 26th. Investors of record on Tuesday, September 19th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.20%. STMicroelectronics N.V.’s payout ratio is currently 40.00%.
STMicroelectronics N.V. announced that its Board of Directors has approved a stock repurchase plan on Thursday, June 22nd that authorizes the company to buyback $297.00 million in outstanding shares. This buyback authorization authorizes the semiconductor producer to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
About STMicroelectronics N.V.
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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