Modera Wealth Management LLC Sells 29,808 Shares of STMicroelectronics (NYSE:STM)

Modera Wealth Management LLC trimmed its position in STMicroelectronics (NYSE:STM - Free Report) by 15.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 165,740 shares of the semiconductor producer's stock after selling 29,808 shares during the period. Modera Wealth Management LLC's holdings in STMicroelectronics were worth $4,927,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of STM. Van ECK Associates Corp grew its position in shares of STMicroelectronics by 11.6% in the 2nd quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer's stock valued at $254,388,000 after buying an additional 675,353 shares during the last quarter. Capital International Investors lifted its stake in shares of STMicroelectronics by 2.4% in the 1st quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer's stock valued at $135,467,000 after purchasing an additional 74,519 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in STMicroelectronics by 0.5% in the second 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 purchasing an additional 7,732 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in STMicroelectronics by 1,564,831.9% in the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer's stock valued at $46,690,000 after buying an additional 1,079,734 shares during the period. Institutional investors and hedge funds own 5.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on STM shares. Morgan Stanley cut shares of STMicroelectronics from an "overweight" rating to an "equal weight" rating in a report on Friday, July 26th. Citigroup raised STMicroelectronics to a "strong-buy" rating in a research note on Thursday, October 10th. StockNews.com downgraded shares of STMicroelectronics from a "buy" rating to a "hold" rating in a research report on Thursday, September 19th. 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 report on Thursday, July 25th. Finally, TD Cowen lowered their target price 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. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, STMicroelectronics has an average rating of "Moderate Buy" and an average price target of $39.80.

STMicroelectronics Stock Performance

STM traded up $0.33 during midday trading on Monday, reaching $28.55. The company had a trading volume of 7,367,578 shares, compared to its average volume of 3,885,094. The business has a 50-day moving average price of $29.01 and a two-hundred day moving average price of $35.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35. STMicroelectronics has a 12-month low of $26.63 and a 12-month high of $51.27. The stock has a market cap of $25.79 billion, a PE ratio of 8.86, a P/E/G ratio of 3.47 and a beta of 1.57.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The business's revenue was down 25.3% on a year-over-year basis. On average, sell-side analysts expect that STMicroelectronics will post 1.63 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics's payout ratio is currently 9.63%.

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.