Fmr LLC Sells 340,461 Shares of STMicroelectronics (NYSE:STM)

FMR LLC trimmed its stake in STMicroelectronics (NYSE:STM - Free Report) by 44.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 426,678 shares of the semiconductor producer's stock after selling 340,461 shares during the period. FMR LLC's holdings in STMicroelectronics were worth $12,685,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of STM. SG Americas Securities LLC increased its position in shares of STMicroelectronics by 5.3% in the second quarter. SG Americas Securities LLC now owns 53,875 shares of the semiconductor producer's stock worth $2,116,000 after purchasing an additional 2,693 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of STMicroelectronics by 6.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 8,967 shares of the semiconductor producer's stock worth $352,000 after purchasing an additional 564 shares during the last quarter. Naples Global Advisors LLC increased its position in shares of STMicroelectronics by 5.0% in the second quarter. Naples Global Advisors LLC now owns 53,231 shares of the semiconductor producer's stock worth $2,096,000 after purchasing an additional 2,530 shares during the last quarter. Blue Trust Inc. increased its position in shares of STMicroelectronics by 22.7% in the second quarter. Blue Trust Inc. now owns 5,854 shares of the semiconductor producer's stock worth $253,000 after purchasing an additional 1,084 shares during the last quarter. Finally, Private Advisory Group LLC bought a new position in shares of STMicroelectronics in the second quarter worth approximately $5,341,000. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Trading Down 0.1 %

STM stock traded down $0.03 on Thursday, reaching $26.23. The company's stock had a trading volume of 2,955,332 shares, compared to its average volume of 4,101,216. The business has a fifty day simple moving average of $26.74 and a two-hundred day simple moving average of $32.43. STMicroelectronics has a 12-month low of $23.95 and a 12-month high of $51.27. The firm has a market cap of $23.70 billion, a PE ratio of 10.81, a PEG ratio of 3.21 and a beta of 1.53. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The firm's revenue was down 26.6% on a year-over-year basis. As a group, research analysts forecast that STMicroelectronics will post 1.64 EPS for the current year.

STMicroelectronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics's payout ratio is 12.35%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Susquehanna reaffirmed a "positive" rating and issued a $33.00 target price on shares of STMicroelectronics in a research note on Thursday, November 21st. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of STMicroelectronics in a research note on Monday. Robert W. Baird cut their target price on STMicroelectronics from $35.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. StockNews.com lowered STMicroelectronics from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Finally, BNP Paribas began coverage on STMicroelectronics in a research note on Tuesday, December 3rd. They issued a "neutral" rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, STMicroelectronics presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.26.

STMicroelectronics Profile

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.