Pinnacle Associates Ltd. Acquires New Shares in STMicroelectronics N.V. (NYSE:STM)

Pinnacle Associates Ltd. acquired a new position in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,643 shares of the semiconductor producer's stock, valued at approximately $344,000.

A number of other large investors have also recently made changes to their positions in STM. Charles Schwab Investment Management Inc. boosted its position in shares of STMicroelectronics by 10.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,843 shares of the semiconductor producer's stock valued at $1,120,000 after purchasing an additional 4,342 shares during the period. Raymond James Financial Inc. purchased a new stake in STMicroelectronics during the 4th quarter valued at approximately $1,738,000. American Century Companies Inc. raised its stake in STMicroelectronics by 4.4% during the 4th quarter. American Century Companies Inc. now owns 518,411 shares of the semiconductor producer's stock valued at $12,945,000 after acquiring an additional 21,983 shares during the last quarter. Sei Investments Co. raised its stake in STMicroelectronics by 982.0% during the 4th quarter. Sei Investments Co. now owns 262,088 shares of the semiconductor producer's stock valued at $6,543,000 after acquiring an additional 237,865 shares during the last quarter. Finally, LPL Financial LLC raised its stake in STMicroelectronics by 7.9% during the 4th quarter. LPL Financial LLC now owns 119,930 shares of the semiconductor producer's stock valued at $2,995,000 after acquiring an additional 8,763 shares during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on STM. Dbs Bank downgraded STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. The Goldman Sachs Group set a $26.50 price objective on STMicroelectronics and gave the company a "neutral" rating in a research note on Friday, July 25th. Robert W. Baird raised STMicroelectronics from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $23.00 to $50.00 in a research note on Tuesday, July 22nd. Craig Hallum downgraded STMicroelectronics from a "buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a research note on Thursday, July 24th. Finally, Oddo Bhf raised STMicroelectronics to an "outperform" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, STMicroelectronics presently has an average rating of "Hold" and an average price target of $32.21.

STMicroelectronics Stock Performance

Shares of STM stock traded down $0.30 during trading hours on Friday, reaching $25.13. 3,644,209 shares of the company's stock were exchanged, compared to its average volume of 7,631,346. The company has a market cap of $22.57 billion, a P/E ratio of 36.34, a price-to-earnings-growth ratio of 4.09 and a beta of 1.60. The company's 50 day moving average is $29.26 and its two-hundred day moving average is $25.54. STMicroelectronics N.V. has a 1 year low of $17.25 and a 1 year high of $33.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.74 and a quick ratio of 1.96.

STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The semiconductor producer reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). STMicroelectronics had a net margin of 5.49% and a return on equity of 4.55%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.71 billion. 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 24th. STMicroelectronics's dividend payout ratio (DPR) is presently 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.