Sanctuary Advisors LLC Invests $2.28 Million in STMicroelectronics (NYSE:STM)

Sanctuary Advisors LLC purchased a new position in shares of STMicroelectronics (NYSE:STM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 55,157 shares of the semiconductor producer's stock, valued at approximately $2,280,000.

Other large investors also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in STMicroelectronics by 11.6% in the 2nd quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer's stock worth $254,388,000 after acquiring an additional 675,353 shares in the last quarter. Capital International Investors grew its stake in STMicroelectronics by 2.4% in the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer's stock worth $135,467,000 after purchasing an additional 74,519 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in STMicroelectronics by 5.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer's stock worth $118,772,000 after purchasing an additional 120,399 shares during the period. Dimensional Fund Advisors LP raised its position in STMicroelectronics by 177.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer's stock valued at $90,806,000 after purchasing an additional 1,478,213 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of STMicroelectronics by 0.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer's stock worth $61,443,000 after buying an additional 7,732 shares during the period. Hedge funds and other institutional investors own 5.05% of the company's stock.

STMicroelectronics Stock Down 0.7 %

Shares of STM stock traded down $0.19 during trading hours on Tuesday, reaching $27.99. 5,393,551 shares of the company's stock were exchanged, compared to its average volume of 3,850,226. STMicroelectronics has a fifty-two week low of $27.44 and a fifty-two week high of $51.27. The stock's 50 day moving average is $29.69 and its 200-day moving average is $37.27. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The company has a market cap of $25.29 billion, a price-to-earnings ratio of 7.13, a P/E/G ratio of 3.52 and a beta of 1.57.

STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.04. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The company had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same period last year, the business posted $1.06 earnings per share. The firm's revenue was down 25.3% compared to the same quarter last year. Analysts predict that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics's dividend payout ratio is presently 7.69%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STM shares. Sanford C. Bernstein decreased their price objective on STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating for the company in a report on Tuesday, July 30th. Morgan Stanley cut shares of STMicroelectronics from an "overweight" rating to an "equal weight" rating in a research report on Friday, July 26th. The Goldman Sachs Group raised shares of STMicroelectronics from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $35.50 to $45.80 in a report on Tuesday, June 18th. Craig Hallum reduced their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, July 25th. Finally, TD Cowen dropped their target price on STMicroelectronics from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.13.

STMicroelectronics Company 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.