Mediolanum International Funds Ltd Purchases New Holdings in STMicroelectronics (NYSE:STM)

Mediolanum International Funds Ltd bought a new stake in STMicroelectronics (NYSE:STM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 249,233 shares of the semiconductor producer's stock, valued at approximately $7,642,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Waldron Private Wealth LLC purchased a new stake in shares of STMicroelectronics during the third quarter valued at $34,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of STMicroelectronics by 144.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer's stock worth $49,000 after purchasing an additional 734 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of STMicroelectronics during the second quarter worth approximately $51,000. Denver PWM LLC purchased a new position in STMicroelectronics during the second quarter valued at approximately $72,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in STMicroelectronics in the 1st quarter valued at approximately $113,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STM. Morgan Stanley cut STMicroelectronics from an "overweight" rating to an "equal weight" rating in a research report on Friday, July 26th. TD Cowen cut their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, July 26th. Craig Hallum reduced their target price on STMicroelectronics from $48.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, July 25th. StockNews.com downgraded shares of STMicroelectronics from a "buy" rating to a "hold" rating in a report on Thursday, September 19th. Finally, Sanford C. Bernstein decreased their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating for the company in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $39.80.

STMicroelectronics Trading Up 0.2 %

Shares of NYSE STM traded up $0.06 during midday trading on Friday, hitting $28.22. The stock had a trading volume of 5,025,529 shares, compared to its average volume of 3,868,938. The firm has a market cap of $25.49 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 3.40 and a beta of 1.57. STMicroelectronics has a fifty-two week low of $26.63 and a fifty-two week high of $51.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. The company's 50-day simple moving average is $29.01 and its 200 day simple moving average is $35.83.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results 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. 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 analyst estimates of $3.55 billion. During the same period in the previous year, the company earned $1.06 EPS. The company's revenue for the quarter was down 25.3% compared to the same quarter last year. Research analysts anticipate that STMicroelectronics will post 1.63 EPS for the current year.

STMicroelectronics Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.28%. STMicroelectronics's dividend payout ratio (DPR) is currently 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.