37,415 Shares in STMicroelectronics (NYSE:STM) Purchased by Washington Capital Management Inc.

Washington Capital Management Inc. purchased a new position in STMicroelectronics (NYSE:STM - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 37,415 shares of the semiconductor producer's stock, valued at approximately $1,112,000. STMicroelectronics comprises 0.9% of Washington Capital Management Inc.'s investment portfolio, making the stock its 24th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in shares of STMicroelectronics during the first quarter worth approximately $28,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of STMicroelectronics by 144.2% during the second 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 bought a new stake in STMicroelectronics during the second quarter worth approximately $51,000. Denver PWM LLC acquired a new stake in STMicroelectronics in the second quarter worth approximately $72,000. Finally, Allspring Global Investments Holdings LLC bought a new position in STMicroelectronics during the 1st quarter valued at $113,000. Institutional investors and hedge funds own 5.05% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on STM shares. The Goldman Sachs Group upgraded STMicroelectronics from a "sell" rating to a "neutral" rating and upped their price objective for the company from $35.50 to $45.80 in a report on Tuesday, June 18th. Citigroup raised shares of STMicroelectronics to a "strong-buy" rating in a report on Thursday, October 10th. StockNews.com cut shares of STMicroelectronics from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Craig Hallum cut their target price 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 decreased their price target on shares of 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, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $43.13.

STMicroelectronics Stock Down 5.2 %

STMicroelectronics stock traded down $1.46 during mid-day trading on Tuesday, hitting $26.87. 7,411,735 shares of the company's stock were exchanged, compared to its average volume of 3,854,109. STMicroelectronics has a 1-year low of $26.63 and a 1-year high of $51.27. The stock has a 50 day moving average of $29.31 and a two-hundred day moving average of $36.61. 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 stock has a market cap of $24.27 billion, a P/E ratio of 6.89, a P/E/G ratio of 3.43 and a beta of 1.57.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. STMicroelectronics's quarterly revenue was down 25.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS. As a group, analysts anticipate that STMicroelectronics will post 1.63 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.34%. STMicroelectronics's dividend payout ratio is presently 7.69%.

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.