Polymer Capital Management US LLC Invests $2.21 Million in STMicroelectronics (NYSE:STM)

Polymer Capital Management US LLC purchased a new stake in STMicroelectronics (NYSE:STM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 88,300 shares of the semiconductor producer’s stock, valued at approximately $2,205,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after acquiring an additional 531 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in STMicroelectronics in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its stake in STMicroelectronics by 225.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock valued at $33,000 after purchasing an additional 921 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in STMicroelectronics by 108.3% during the third quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of STMicroelectronics by 197.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 1,180 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Stock Performance

NYSE:STM opened at $18.49 on Monday. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. STMicroelectronics has a 1-year low of $17.39 and a 1-year high of $45.39. The firm’s fifty day moving average price is $24.08 and its 200 day moving average price is $25.62.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. On average, sell-side analysts expect that STMicroelectronics will post 0.85 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on STM. Sanford C. Bernstein downgraded shares of STMicroelectronics from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $33.00 to $26.00 in a research report on Wednesday, February 5th. TD Cowen cut STMicroelectronics from a “buy” rating to a “hold” rating and cut their target price for the stock from $32.00 to $25.00 in a research report on Monday, January 13th. Bank of America cut STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Jefferies Financial Group upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, STMicroelectronics currently has an average rating of “Hold” and an average target price of $31.26.

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.