Envestnet Asset Management Inc. cut its position in STMicroelectronics N.V. (NYSE:STM - Free Report) by 8.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,892 shares of the semiconductor producer's stock after selling 10,807 shares during the quarter. Envestnet Asset Management Inc.'s holdings in STMicroelectronics were worth $2,589,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in STMicroelectronics by 139.6% in the 1st quarter. Farther Finance Advisors LLC now owns 1,862 shares of the semiconductor producer's stock valued at $41,000 after purchasing an additional 1,085 shares in the last quarter. Deutsche Bank AG raised its holdings in STMicroelectronics by 14.5% in the 4th quarter. Deutsche Bank AG now owns 3,682 shares of the semiconductor producer's stock valued at $92,000 after buying an additional 466 shares during the period. Russell Investments Group Ltd. raised its holdings in STMicroelectronics by 16.0% in the 4th quarter. Russell Investments Group Ltd. now owns 5,069 shares of the semiconductor producer's stock valued at $127,000 after buying an additional 700 shares during the period. Parvin Asset Management LLC purchased a new stake in STMicroelectronics in the 4th quarter valued at about $137,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in STMicroelectronics during the fourth quarter worth about $145,000. Institutional investors and hedge funds own 5.05% of the company's stock.
STMicroelectronics Stock Performance
STMicroelectronics stock traded down $0.22 during trading hours on Friday, hitting $25.21. The stock had a trading volume of 3,364,309 shares, compared to its average volume of 7,629,636. 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 quick ratio of 1.96, a current ratio of 2.74 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $29.26 and a two-hundred day moving average of $25.54. The company has a market cap of $22.65 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 4.09 and a beta of 1.60.
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 the consensus estimate of $0.10 by ($0.04). STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.71 billion. On average, equities research analysts anticipate that STMicroelectronics N.V. will post 0.85 EPS for the current fiscal year.
STMicroelectronics Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, March 24th. STMicroelectronics's payout ratio is 52.17%.
Analysts Set New Price Targets
STM has been the topic of a number of recent research reports. The Goldman Sachs Group set a $26.50 target price on shares of STMicroelectronics and gave the stock a "neutral" rating in a research note on Friday, July 25th. Oddo Bhf raised STMicroelectronics to an "outperform" rating in a report on Wednesday, July 2nd. Robert W. Baird raised STMicroelectronics from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $23.00 to $50.00 in a report on Tuesday, July 22nd. Susquehanna increased their price objective on STMicroelectronics from $30.00 to $40.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of STMicroelectronics in a research report on Friday, July 25th. 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $32.21.
Check Out Our Latest Analysis on STMicroelectronics
STMicroelectronics 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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