Envestnet Asset Management Inc. Has $2.59 Million Stock Holdings in STMicroelectronics N.V. (NYSE:STM)

Key Points

• Envestnet Asset Management Inc. reduced its stake in STMicroelectronics by 8.4%, now holding 117,892 shares valued at approximately $2.59 million.
• Brokerages have varying views on STMicroelectronics, with reports indicating a shift from "buy" to "hold" ratings, impacting its consensus price target, which is set at $32.21.
• The company announced a quarterly dividend of $0.09, reflecting a 1.35% yield with a payout ratio of 44.93%.

Envestnet Asset Management Inc. trimmed its position in STMicroelectronics N.V. (NYSE:STM - Free Report) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of STMicroelectronics by 139.6% during the first 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 boosted its stake in shares of STMicroelectronics by 14.5% during the fourth quarter. Deutsche Bank AG now owns 3,682 shares of the semiconductor producer's stock valued at $92,000 after purchasing an additional 466 shares in the last quarter. Russell Investments Group Ltd. boosted its stake 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 valued at $127,000 after purchasing an additional 700 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of STMicroelectronics during the fourth quarter valued at about $137,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of STMicroelectronics during the fourth quarter valued at about $145,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on STM. Craig Hallum lowered STMicroelectronics from a "buy" rating to a "hold" rating and set a $28.00 target price for the company. in a research report on Thursday, July 24th. Dbs Bank lowered STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Oddo Bhf upgraded STMicroelectronics to an "outperform" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of STMicroelectronics in a research report on Friday. Finally, Robert W. Baird upgraded STMicroelectronics from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $23.00 to $50.00 in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $32.21.

STMicroelectronics Stock Performance

Shares of NYSE:STM opened at $26.70 on Tuesday. STMicroelectronics N.V. has a 52 week low of $17.25 and a 52 week high of $34.30. The stock has a market capitalization of $23.98 billion, a P/E ratio of 38.70, a PEG ratio of 3.84 and a beta of 1.60. The firm has a fifty day simple moving average of $29.23 and a two-hundred day simple moving average of $25.52. The company has a quick ratio of 1.96, a current ratio of 2.74 and a debt-to-equity ratio of 0.11.

STMicroelectronics (NYSE:STM - Get Free Report) last announced 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). The company had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.71 billion. STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%. On average, analysts expect that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal 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 issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, March 24th. STMicroelectronics's dividend payout ratio is 44.93%.

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.

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