Shariaportfolio Inc. boosted its position in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 37.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,131 shares of the semiconductor producer's stock after acquiring an additional 23,713 shares during the quarter. STMicroelectronics accounts for approximately 1.0% of Shariaportfolio Inc.'s investment portfolio, making the stock its 15th biggest position. Shariaportfolio Inc.'s holdings in STMicroelectronics were worth $1,913,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of STM. Callan Family Office LLC purchased a new stake in shares of STMicroelectronics during the fourth quarter worth $486,000. Raymond James Financial Inc. acquired a new position in STMicroelectronics during the 4th quarter worth $1,738,000. Schechter Investment Advisors LLC acquired a new position in STMicroelectronics during the 4th quarter worth $758,000. Aigen Investment Management LP increased its holdings in STMicroelectronics by 100.5% during the 4th quarter. Aigen Investment Management LP now owns 77,986 shares of the semiconductor producer's stock worth $1,947,000 after purchasing an additional 39,082 shares during the period. Finally, US Bancorp DE raised its position in STMicroelectronics by 54.9% in the 4th quarter. US Bancorp DE now owns 67,969 shares of the semiconductor producer's stock valued at $1,697,000 after purchasing an additional 24,096 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.
STMicroelectronics Stock Up 0.7%
Shares of NYSE:STM traded up $0.20 during trading on Thursday, hitting $30.14. 5,172,022 shares of the company were exchanged, compared to its average volume of 6,094,084. The firm's 50 day moving average price is $25.82 and its 200-day moving average price is $24.64. STMicroelectronics N.V. has a 12-month low of $17.25 and a 12-month high of $43.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 2.24. The stock has a market capitalization of $27.07 billion, a P/E ratio of 25.54, a PEG ratio of 1.87 and a beta of 1.56.
STMicroelectronics (NYSE:STM - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. STMicroelectronics had a net margin of 8.94% and a return on equity of 6.28%. On average, research analysts predict that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.
STMicroelectronics Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 24th. This represents a $0.36 dividend on an annualized basis and a yield of 1.19%. STMicroelectronics's dividend payout ratio is presently 26.27%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on STM. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of STMicroelectronics in a research report on Friday, April 25th. Dbs Bank downgraded shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, TD Cowen increased their price objective on shares of STMicroelectronics from $23.00 to $30.00 and gave the company a "hold" rating in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $29.67.
Read Our Latest Stock Report on STM
About STMicroelectronics
(
Free Report)
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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