STMicroelectronics N.V. (NYSE:STM) Stake Lessened by Cerity Partners LLC

Key Points

• Cerity Partners LLC has reduced its stake in STMicroelectronics N.V. by 59.3%, now owning 11,700 shares after selling 17,072 shares, reflecting a holdings value of $257,000.
• Various institutional investors are increasing their stakes, with JPMorgan Chase & Co. raising its holdings by 131.5%, now owning 3,413,356 shares valued at $85.2 million.
• STMicroelectronics recently reported quarterly earnings, missing EPS estimates by $0.04, with a revenue of $2.77 billion compared to $2.71 billion expected, and announced a quarterly dividend of $0.09.

Cerity Partners LLC trimmed its holdings in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 59.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,700 shares of the semiconductor producer's stock after selling 17,072 shares during the quarter. Cerity Partners LLC's holdings in STMicroelectronics were worth $257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in STM. Raymond James Financial Inc. purchased a new stake in shares of STMicroelectronics during the fourth quarter worth about $1,738,000. American Century Companies Inc. grew its stake in shares of STMicroelectronics by 4.4% during the fourth quarter. American Century Companies Inc. now owns 518,411 shares of the semiconductor producer's stock worth $12,945,000 after acquiring an additional 21,983 shares during the last quarter. XTX Topco Ltd grew its stake in shares of STMicroelectronics by 207.5% during the fourth quarter. XTX Topco Ltd now owns 75,211 shares of the semiconductor producer's stock worth $1,878,000 after acquiring an additional 50,756 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of STMicroelectronics by 16.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,069 shares of the semiconductor producer's stock worth $127,000 after purchasing an additional 700 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of STMicroelectronics by 146.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 25,585 shares of the semiconductor producer's stock worth $562,000 after purchasing an additional 15,190 shares during the period. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Craig Hallum downgraded STMicroelectronics from a "buy" rating to a "hold" rating and set a $28.00 target price for the company. in a research note on Thursday, July 24th. TD Cowen dropped their price target on STMicroelectronics from $34.00 to $27.00 and set a "hold" rating for the company in a research report on Friday, July 25th. Dbs Bank cut STMicroelectronics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Susquehanna increased their target price on STMicroelectronics from $30.00 to $40.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Finally, Oddo Bhf upgraded STMicroelectronics to an "outperform" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, STMicroelectronics has a consensus rating of "Hold" and an average target price of $32.21.

STMicroelectronics Stock Down 0.8%

Shares of NYSE:STM traded down $0.22 during trading on Friday, hitting $25.21. The company's stock had a trading volume of 3,364,309 shares, compared to its average volume of 7,629,636. The company has a market capitalization of $22.65 billion, a PE ratio of 36.55, a PEG ratio of 4.09 and a beta of 1.60. The stock's 50-day moving average price is $29.26 and its two-hundred day moving average price is $25.54. STMicroelectronics N.V. has a fifty-two week low of $17.25 and a fifty-two week high of $33.47. 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 issued its quarterly earnings data on Thursday, July 24th. The semiconductor producer reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, sell-side analysts expect that STMicroelectronics N.V. will post 0.85 EPS for the current year.

STMicroelectronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, March 24th. STMicroelectronics's dividend payout ratio is 52.17%.

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.