Picton Mahoney Asset Management Buys Shares of 121,900 STMicroelectronics NV (STM)

Picton Mahoney Asset Management bought a new stake in STMicroelectronics NV (NYSE:STM) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 121,900 shares of the semiconductor producer’s stock, valued at approximately $2,235,000.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of STMicroelectronics by 6,533.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,246,613 shares of the semiconductor producer’s stock valued at $27,575,000 after purchasing an additional 1,227,821 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of STMicroelectronics in the 2nd quarter valued at about $718,000. Marshall Wace LLP acquired a new stake in shares of STMicroelectronics in the 2nd quarter valued at about $3,005,000. Centaurus Financial Inc. acquired a new stake in shares of STMicroelectronics in the 2nd quarter valued at about $125,000. Finally, Raymond James & Associates raised its stake in shares of STMicroelectronics by 11.0% in the 2nd quarter. Raymond James & Associates now owns 121,516 shares of the semiconductor producer’s stock valued at $2,688,000 after purchasing an additional 12,077 shares in the last quarter. Institutional investors and hedge funds own 4.13% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of STMicroelectronics from a “sell” rating to a “hold” rating in a research note on Saturday, October 27th. Goldman Sachs Group restated a “hold” rating on shares of STMicroelectronics in a research note on Wednesday. Baader Bank restated a “hold” rating on shares of STMicroelectronics in a research note on Wednesday, October 24th. Craig Hallum cut their target price on shares of STMicroelectronics from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Finally, Robert W. Baird lowered shares of STMicroelectronics from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.48.

STM opened at $14.89 on Friday. The stock has a market cap of $13.83 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08. STMicroelectronics NV has a fifty-two week low of $13.56 and a fifty-two week high of $26.43. The company has a current ratio of 2.54, a quick ratio of 1.81 and a debt-to-equity ratio of 0.27.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Wednesday, October 24th. The semiconductor producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.50 billion. STMicroelectronics had a net margin of 12.41% and a return on equity of 21.97%. STMicroelectronics’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Sell-side analysts predict that STMicroelectronics NV will post 1.39 earnings per share for the current fiscal year.

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STMicroelectronics Profile

STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.

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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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