Saturna Capital Corp Trims Position in STMicroelectronics (NYSE:STM)

Saturna Capital Corp reduced its position in STMicroelectronics (NYSE:STM - Free Report) by 89.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,335 shares of the semiconductor producer's stock after selling 91,700 shares during the quarter. Saturna Capital Corp's holdings in STMicroelectronics were worth $307,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of STM. Van ECK Associates Corp grew its position in STMicroelectronics by 26.5% in the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer's stock worth $228,655,000 after acquiring an additional 1,719,257 shares in the last quarter. Capital International Investors lifted its position in STMicroelectronics by 2.4% in the 1st quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer's stock worth $135,467,000 after buying an additional 74,519 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer's stock worth $90,806,000 after buying an additional 1,478,213 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake 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 buying an additional 7,732 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of STMicroelectronics by 1,564,831.9% during the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer's stock worth $46,690,000 after acquiring an additional 1,079,734 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut shares of STMicroelectronics from an "equal weight" rating to an "underweight" rating in a research note on Monday, November 4th. Susquehanna reduced their price objective on STMicroelectronics from $35.00 to $33.00 and set a "positive" rating on the stock in a research note on Friday, November 1st. Craig Hallum decreased their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Citigroup upgraded shares of STMicroelectronics to a "strong-buy" rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein cut their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating on the stock in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.63.

STMicroelectronics Stock Down 4.7 %

Shares of NYSE:STM traded down $1.27 during trading on Wednesday, hitting $25.88. The stock had a trading volume of 5,207,519 shares, compared to its average volume of 3,996,193. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 12 month low of $25.69 and a 12 month high of $51.27. The company has a market capitalization of $23.38 billion, a PE ratio of 10.60, a PEG ratio of 3.30 and a beta of 1.57. The firm's fifty day moving average is $28.04 and its 200 day moving average is $34.64.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The company had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.27 billion. During the same period last year, the company posted $1.16 EPS. STMicroelectronics's revenue was down 26.6% on a year-over-year basis. Analysts anticipate that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 1.39%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics's payout ratio is 12.76%.

About STMicroelectronics

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.