Crossmark Global Holdings Inc. Raises Holdings in STMicroelectronics (NYSE:STM)

Crossmark Global Holdings Inc. lifted its position in shares of STMicroelectronics (NYSE:STM - Free Report) by 53.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,812 shares of the semiconductor producer's stock after purchasing an additional 22,692 shares during the period. Crossmark Global Holdings Inc.'s holdings in STMicroelectronics were worth $1,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Waldron Private Wealth LLC bought a new stake in STMicroelectronics during the 3rd quarter worth approximately $34,000. Whittier Trust Co. of Nevada Inc. lifted its position 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 in the last quarter. Ridgewood Investments LLC purchased a new position in shares of STMicroelectronics during the 2nd quarter worth $51,000. Tompkins Financial Corp purchased a new stake in STMicroelectronics during the 3rd quarter valued at approximately $59,000. Finally, Covestor Ltd bought a new stake in STMicroelectronics in the third quarter worth $62,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on STM shares. Citigroup raised shares of STMicroelectronics to a "strong-buy" rating in a report on Thursday, October 10th. Morgan Stanley downgraded STMicroelectronics from an "equal weight" rating to an "underweight" rating in a report on Monday, November 4th. Sanford C. Bernstein decreased their price target on STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 30th. Susquehanna lowered their price target on shares of STMicroelectronics from $35.00 to $33.00 and set a "positive" rating for the company in a report on Friday, November 1st. Finally, Robert W. Baird cut their price objective on STMicroelectronics from $35.00 to $30.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.63.

STMicroelectronics Price Performance

STM traded down $1.27 on Wednesday, reaching $25.88. The stock had a trading volume of 5,207,519 shares, compared to its average volume of 3,996,193. The company has a market capitalization of $23.38 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 3.30 and a beta of 1.57. STMicroelectronics has a fifty-two week low of $25.69 and a fifty-two week high of $51.27. The firm has a 50-day moving average of $28.04 and a 200-day moving average of $34.64. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm earned $1.16 earnings per share. STMicroelectronics's quarterly revenue was down 26.6% on a year-over-year basis. As a group, sell-side analysts anticipate that STMicroelectronics will post 1.64 EPS for the current year.

STMicroelectronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be given a $0.09 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 annualized dividend and a yield of 1.39%. STMicroelectronics's dividend payout ratio is currently 12.76%.

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.