Ridgewood Investments LLC Has $289,000 Position in STMicroelectronics N.V. (NYSE:STM)

Key Points

• Ridgewood Investments LLC increased its stake in STMicroelectronics by 325.1%, acquiring an additional 10,075 shares, bringing its total holdings to 13,174 shares valued at approximately $289,000.
• STMicroelectronics reported $0.06 EPS for the last quarter, missing analyst expectations, despite revenues of $2.77 billion exceeding forecasts.
• The company announced a quarterly dividend of $0.09 per share, with a dividend yield of 1.37%, and scheduled the payout for March 31 with a record date of March 24.

Ridgewood Investments LLC increased its holdings in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 325.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,174 shares of the semiconductor producer's stock after purchasing an additional 10,075 shares during the period. Ridgewood Investments LLC's holdings in STMicroelectronics were worth $289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its position 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 last quarter. SBI Securities Co. Ltd. increased its position in shares of STMicroelectronics by 57.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,322 shares of the semiconductor producer's stock worth $73,000 after purchasing an additional 1,209 shares during the last quarter. Deutsche Bank AG increased its position in shares of 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 purchasing an additional 466 shares during the last quarter. Allworth Financial LP increased its holdings in shares of STMicroelectronics by 59.0% during the 1st quarter. Allworth Financial LP now owns 3,825 shares of the semiconductor producer's stock worth $89,000 after acquiring an additional 1,420 shares during the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of STMicroelectronics by 5,767.5% during the 1st quarter. Whittier Trust Co. now owns 4,694 shares of the semiconductor producer's stock worth $103,000 after acquiring an additional 4,614 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.

STMicroelectronics Price Performance

Shares of STMicroelectronics stock traded down $0.51 during trading on Thursday, reaching $25.52. 4,889,886 shares of the company's stock were exchanged, compared to its average volume of 7,625,143. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 2.74. STMicroelectronics N.V. has a 1-year low of $17.25 and a 1-year high of $33.89. The company has a market cap of $22.92 billion, a P/E ratio of 37.03, a PEG ratio of 4.17 and a beta of 1.60. The firm's 50-day moving average price is $29.26 and its 200 day moving average price is $25.53.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly 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). STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.71 billion. As a group, research analysts anticipate that STMicroelectronics N.V. will post 0.85 earnings per share for the current 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. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.36 dividend on an annualized basis and a yield of 1.41%. STMicroelectronics's payout ratio is presently 44.93%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Dbs Bank downgraded STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Oddo Bhf upgraded STMicroelectronics to an "outperform" rating in a research note on Wednesday, July 2nd. Craig Hallum downgraded 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. Susquehanna upped their target price on STMicroelectronics from $30.00 to $40.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Finally, Robert W. Baird upgraded 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 research report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned 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 target price of $32.21.

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.