Aigen Investment Management LP Purchases Shares of 38,904 STMicroelectronics (NYSE:STM)

Aigen Investment Management LP acquired a new position in shares of STMicroelectronics (NYSE:STM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 38,904 shares of the semiconductor producer’s stock, valued at approximately $1,157,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Waldron Private Wealth LLC bought a new stake in STMicroelectronics in the third quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. raised its stake in STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after acquiring an additional 734 shares during the period. Ridgewood Investments LLC acquired a new stake in STMicroelectronics during the 2nd quarter valued at $51,000. Denver PWM LLC bought a new position in STMicroelectronics during the second quarter worth $72,000. Finally, Tompkins Financial Corp bought a new position in STMicroelectronics during the third quarter worth $59,000. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Stock Up 1.1 %

Shares of NYSE STM opened at $27.15 on Wednesday. The stock has a market capitalization of $24.53 billion, a P/E ratio of 11.17, a PEG ratio of 3.27 and a beta of 1.57. The stock’s fifty day moving average is $28.04 and its 200 day moving average is $34.64. STMicroelectronics has a 52 week low of $25.95 and a 52 week high of $51.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the firm earned $1.16 EPS. The business’s quarterly revenue was down 26.6% compared to the same quarter last year. Sell-side analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is presently 12.76%.

Wall Street Analyst Weigh In

STM has been the subject of a number of research reports. Robert W. Baird cut their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Morgan Stanley lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. TD Cowen reduced their price target on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Craig Hallum reduced their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.63.

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.