International Assets Investment Management LLC acquired a new stake in shares of STMicroelectronics (NYSE:STM - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 139,850 shares of the semiconductor producer's stock, valued at approximately $4,158,000.
A number of other hedge funds have also modified their holdings of the stock. Waldron Private Wealth LLC acquired a new position in STMicroelectronics in the third quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer's stock worth $49,000 after acquiring an additional 734 shares in the last quarter. Ridgewood Investments LLC bought a new stake in STMicroelectronics during the 2nd quarter worth approximately $51,000. Denver PWM LLC acquired a new stake in STMicroelectronics during the 2nd quarter valued at $72,000. Finally, Allspring Global Investments Holdings LLC bought a new position in STMicroelectronics in the 1st quarter valued at $113,000. 5.05% of the stock is owned by institutional investors and hedge funds.
STMicroelectronics Trading Down 1.7 %
Shares of STMicroelectronics stock traded down $0.47 on Friday, hitting $26.67. 6,813,875 shares of the company's stock traded hands, compared to its average volume of 4,814,587. The firm's 50-day moving average price is $28.67 and its two-hundred day moving average price is $35.39. 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 stock has a market capitalization of $24.09 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 3.36 and a beta of 1.58. STMicroelectronics has a one year low of $26.44 and a one year high of $51.27.
STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.44% and a net margin of 16.11%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm's revenue was down 26.6% on a year-over-year basis. On average, research analysts expect that STMicroelectronics will post 1.62 EPS for the current fiscal year.
STMicroelectronics Dividend Announcement
The company also recently announced 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 yield of 1.35%. STMicroelectronics's dividend payout ratio (DPR) is presently 12.76%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on STM shares. Sanford C. Bernstein lowered their target price on STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating for the company in a research note on Tuesday, July 30th. Susquehanna lowered their price objective on shares of STMicroelectronics from $35.00 to $33.00 and set a "positive" rating for the company in a research report on Friday. Morgan Stanley lowered shares of STMicroelectronics from an "overweight" rating to an "equal weight" rating in a research report on Friday, July 26th. Citigroup raised shares of STMicroelectronics to a "strong-buy" rating in a report on Thursday, October 10th. Finally, TD Cowen dropped their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, July 26th. Five 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. Based on data from MarketBeat.com, STMicroelectronics currently has an average rating of "Moderate Buy" and an average target price of $37.63.
Read Our Latest Report on STM
STMicroelectronics Company Profile
(
Free Report)
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.
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