New York State Common Retirement Fund Invests $2.99 Million in STMicroelectronics N.V. (NYSE:STM)

New York State Common Retirement Fund bought a new position in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 136,327 shares of the semiconductor producer's stock, valued at approximately $2,994,000.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG raised its position in STMicroelectronics by 14.5% during the 4th quarter. Deutsche Bank AG now owns 3,682 shares of the semiconductor producer's stock worth $92,000 after buying an additional 466 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of STMicroelectronics by 16.0% during the 4th 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. Farther Finance Advisors LLC grew its stake in shares of STMicroelectronics by 139.6% during the 1st quarter. Farther Finance Advisors LLC now owns 1,862 shares of the semiconductor producer's stock worth $41,000 after purchasing an additional 1,085 shares during the period. Quadrant Capital Group LLC grew its stake in shares of STMicroelectronics by 11.0% during the 4th quarter. Quadrant Capital Group LLC now owns 11,358 shares of the semiconductor producer's stock worth $284,000 after purchasing an additional 1,121 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of STMicroelectronics by 13.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,323 shares of the semiconductor producer's stock worth $258,000 after purchasing an additional 1,184 shares during the period. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Stock Up 1.9%

STMicroelectronics stock opened at $33.43 on Wednesday. The company has a market capitalization of $30.02 billion, a PE ratio of 28.33, a PEG ratio of 1.93 and a beta of 1.60. The firm's fifty day moving average is $28.77 and its 200 day moving average is $25.34. The company has a quick ratio of 2.24, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. STMicroelectronics N.V. has a 12-month low of $17.25 and a 12-month high of $40.55.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. STMicroelectronics had a net margin of 8.94% and a return on equity of 6.28%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.55 billion. As a group, sell-side analysts predict that STMicroelectronics N.V. will post 0.85 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, March 24th. STMicroelectronics's dividend payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Dbs Bank cut shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Oddo Bhf upgraded shares of STMicroelectronics to an "outperform" rating in a report on Wednesday, July 2nd. Susquehanna upped their target price on shares of STMicroelectronics from $30.00 to $40.00 and gave the company a "positive" rating in a report on Tuesday. TD Cowen upped their target price on shares of STMicroelectronics from $23.00 to $30.00 and gave the company a "hold" rating in a report on Friday, June 13th. Finally, Robert W. Baird upgraded shares of STMicroelectronics from a "neutral" rating to an "outperform" rating and upped their target price for the company from $23.00 to $50.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.