507,944 Shares in STMicroelectronics N.V. (NYSE:STM) Acquired by Foresight Global Investors Inc.

Key Points

• Foresight Global Investors Inc. has acquired 507,944 shares of STMicroelectronics, valued at approximately $11.15 million, representing 7.8% of its holdings.
• STMicroelectronics reported a miss on earnings with $0.06 EPS, falling short of the $0.10 expected by analysts; however, it exceeded revenue expectations with $2.77 billion.
• The company will pay a quarterly dividend of $0.09 per share on March 31st, translating to an annualized yield of 1.5% and a payout ratio of 44.93%.

Foresight Global Investors Inc. bought a new stake in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 507,944 shares of the semiconductor producer's stock, valued at approximately $11,154,000. STMicroelectronics comprises approximately 7.8% of Foresight Global Investors Inc.'s holdings, making the stock its 7th largest position. Foresight Global Investors Inc. owned about 0.06% of STMicroelectronics at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in STM. Two Sigma Investments LP increased its stake in shares of STMicroelectronics by 19.4% in the 4th quarter. Two Sigma Investments LP now owns 4,475,384 shares of the semiconductor producer's stock worth $111,750,000 after purchasing an additional 725,684 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in STMicroelectronics by 39.2% during the fourth quarter. Voloridge Investment Management LLC now owns 3,330,616 shares of the semiconductor producer's stock valued at $83,165,000 after purchasing an additional 938,097 shares during the period. Two Sigma Advisers LP increased its position in STMicroelectronics by 35.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,886,700 shares of the semiconductor producer's stock worth $47,111,000 after buying an additional 490,000 shares in the last quarter. Invesco Ltd. lifted its position in shares of STMicroelectronics by 94.4% during the 4th quarter. Invesco Ltd. now owns 1,767,787 shares of the semiconductor producer's stock valued at $44,142,000 after buying an additional 858,624 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of STMicroelectronics by 22.1% during the 4th quarter. Barclays PLC now owns 1,281,006 shares of the semiconductor producer's stock valued at $31,987,000 after acquiring an additional 231,668 shares during the period. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Stock Down 0.5%

Shares of NYSE STM opened at $24.81 on Thursday. STMicroelectronics N.V. has a 52-week low of $17.25 and a 52-week high of $33.47. The firm has a market capitalization of $22.28 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 3.92 and a beta of 1.61. The stock has a 50 day moving average price of $29.27 and a 200 day moving average price of $25.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 2.74.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results on Thursday, July 24th. The semiconductor producer reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). STMicroelectronics had a net margin of 5.49% and a return on equity of 4.55%. The business had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.71 billion. Sell-side analysts expect that STMicroelectronics N.V. will post 0.85 earnings per share for the current year.

STMicroelectronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th 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 1.5%. The ex-dividend date is Tuesday, March 24th. STMicroelectronics's dividend payout ratio is 44.93%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on STM shares. TD Cowen reduced their price objective on shares of STMicroelectronics from $34.00 to $27.00 and set a "hold" rating for the company in a research note on Friday, July 25th. Dbs Bank cut STMicroelectronics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Baird R W upgraded shares of STMicroelectronics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Oddo Bhf upgraded shares of STMicroelectronics to an "outperform" rating in a research report on Wednesday, July 2nd. Finally, The Goldman Sachs Group set a $26.50 price target on shares of STMicroelectronics and gave the company a "neutral" rating in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.21.

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.

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