Citigroup Inc. Lowers Stock Position in STMicroelectronics N.V. (NYSE:STM)

Citigroup Inc. trimmed its holdings in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 24.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,236,330 shares of the semiconductor producer's stock after selling 393,291 shares during the quarter. Citigroup Inc. owned 0.14% of STMicroelectronics worth $27,150,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of STM. Farther Finance Advisors LLC boosted its holdings in shares of STMicroelectronics by 139.6% in the 1st quarter. Farther Finance Advisors LLC now owns 1,862 shares of the semiconductor producer's stock worth $41,000 after buying an additional 1,085 shares during the last quarter. SBI Securities Co. Ltd. grew its stake 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 acquiring an additional 1,209 shares during the period. Deutsche Bank AG raised its stake in STMicroelectronics by 14.5% in the 4th quarter. Deutsche Bank AG now owns 3,682 shares of the semiconductor producer's stock valued at $92,000 after acquiring an additional 466 shares during the period. Allworth Financial LP raised its position in shares of STMicroelectronics by 59.0% in the first quarter. Allworth Financial LP now owns 3,825 shares of the semiconductor producer's stock valued at $89,000 after purchasing an additional 1,420 shares during the period. Finally, Whittier Trust Co. lifted its stake 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 valued at $103,000 after buying an additional 4,614 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STM. TD Cowen dropped their price objective on STMicroelectronics from $34.00 to $27.00 and set a "hold" rating on the stock in a report on Friday, July 25th. 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 research note on Wednesday, July 2nd. Craig Hallum lowered shares of STMicroelectronics from a "buy" rating to a "hold" rating and set a $28.00 price target for the company. in a research report on Thursday, July 24th. Finally, Susquehanna increased their price objective on STMicroelectronics from $30.00 to $40.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $32.21.

STMicroelectronics Trading Down 1.0%

STMicroelectronics stock traded down $0.26 during trading hours on Thursday, reaching $25.89. The stock had a trading volume of 5,303,859 shares, compared to its average volume of 9,037,259. The stock has a market cap of $23.25 billion, a PE ratio of 37.52, a PEG ratio of 4.11 and a beta of 1.61. The company has a fifty day simple moving average of $29.18 and a 200-day simple moving average of $25.54. 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 N.V. has a 52 week low of $17.25 and a 52 week high of $33.47.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The semiconductor producer reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.71 billion. STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%. Analysts forecast that STMicroelectronics N.V. will post 0.85 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. STMicroelectronics's payout ratio is presently 44.93%.

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.