STMicroelectronics (NYSE:STM) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in shares of STMicroelectronics (NYSE:STM - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 292,924 shares of the semiconductor producer's stock after buying an additional 30,413 shares during the quarter. Mackenzie Financial Corp's holdings in STMicroelectronics were worth $7,314,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. purchased a new position in shares of STMicroelectronics during the 4th quarter worth $31,000. Smartleaf Asset Management LLC increased its position in STMicroelectronics by 225.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer's stock worth $33,000 after purchasing an additional 921 shares during the last quarter. Rakuten Securities Inc. raised its stake in STMicroelectronics by 197.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer's stock worth $44,000 after purchasing an additional 1,180 shares during the period. SBI Securities Co. Ltd. acquired a new position in STMicroelectronics in the 4th quarter valued at about $53,000. Finally, Crews Bank & Trust purchased a new stake in shares of STMicroelectronics in the 4th quarter valued at approximately $70,000. Institutional investors and hedge funds own 5.05% of the company's stock.

STMicroelectronics Stock Up 1.7%

Shares of NYSE STM traded up $0.43 during midday trading on Thursday, hitting $25.42. The company's stock had a trading volume of 5,392,892 shares, compared to its average volume of 5,762,928. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. The firm has a market capitalization of $22.83 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. The business's fifty day simple moving average is $22.60 and its two-hundred day simple moving average is $24.21. STMicroelectronics has a 1 year low of $17.25 and a 1 year high of $45.39.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. On average, equities analysts predict that STMicroelectronics will post 0.85 EPS for the current year.

STMicroelectronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 24th. This represents a $0.36 annualized dividend and a yield of 1.42%. STMicroelectronics's dividend payout ratio (DPR) is 25.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STM shares. Dbs Bank lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Sanford C. Bernstein lowered STMicroelectronics from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $33.00 to $26.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded STMicroelectronics from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Bank of America lowered shares of STMicroelectronics from a "buy" rating to a "neutral" rating in a report on Thursday, February 6th. Finally, Morgan Stanley raised shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, STMicroelectronics presently has a consensus rating of "Hold" and an average target price of $30.97.

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.