Mackenzie Financial Corp lowered its stake in STMicroelectronics N.V. (NYSE:STM - Free Report) by 27.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,091 shares of the semiconductor producer's stock after selling 79,833 shares during the quarter. Mackenzie Financial Corp's holdings in STMicroelectronics were worth $4,679,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Deutsche Bank AG raised its stake in shares of STMicroelectronics by 14.5% in the fourth 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 period. Russell Investments Group Ltd. raised its stake in STMicroelectronics by 16.0% during the 4th quarter. Russell Investments Group Ltd. now owns 5,069 shares of the semiconductor producer's stock valued at $127,000 after purchasing an additional 700 shares during the period. Gallacher Capital Management LLC raised its stake in STMicroelectronics by 5.0% during the 1st quarter. Gallacher Capital Management LLC now owns 14,746 shares of the semiconductor producer's stock valued at $324,000 after purchasing an additional 702 shares during the period. Farther Finance Advisors LLC raised its stake in STMicroelectronics by 139.6% during the 1st quarter. Farther Finance Advisors LLC now owns 1,862 shares of the semiconductor producer's stock valued at $41,000 after purchasing an additional 1,085 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in STMicroelectronics by 11.0% during the 4th quarter. Quadrant Capital Group LLC now owns 11,358 shares of the semiconductor producer's stock valued at $284,000 after purchasing an additional 1,121 shares during the period. Institutional investors own 5.05% of the company's stock.
STMicroelectronics Stock Down 0.2%
Shares of STM stock traded down $0.06 during mid-day trading on Wednesday, hitting $24.89. The stock had a trading volume of 3,799,072 shares, compared to its average volume of 7,648,777. STMicroelectronics N.V. has a 12-month low of $17.25 and a 12-month high of $33.47. The firm has a market capitalization of $22.35 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 3.95 and a beta of 1.61. The firm's 50-day moving average is $29.28 and its two-hundred day moving average is $25.55. 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 issued its earnings results 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 return on equity of 4.55% and a net margin of 5.49%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.71 billion. On average, analysts predict that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.
STMicroelectronics Dividend Announcement
The business 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 dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, March 24th. STMicroelectronics's dividend payout ratio is 44.93%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on STM. TD Cowen decreased their target price on STMicroelectronics from $34.00 to $27.00 and set a "hold" rating on the stock in a research note on Friday, July 25th. Dbs Bank downgraded STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a research note on Friday, July 25th. Susquehanna lifted their price objective on STMicroelectronics from $30.00 to $40.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group set a $26.50 price objective on STMicroelectronics and gave the stock a "neutral" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $32.21.
View Our Latest Stock Analysis 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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