Mackenzie Financial Corp Has $4.68 Million Stake in STMicroelectronics N.V. (NYSE:STM)

Key Points

• Mackenzie Financial Corp reduced its stake in STMicroelectronics by 27.3%, selling 79,833 shares in the first quarter, resulting in holdings valued at $4,679,000.
• Analysts have mixed ratings on STMicroelectronics, with five buy ratings, ten hold ratings, and two strong buy ratings, reflecting varied confidence in the stock’s performance.
• STMicroelectronics declared a quarterly dividend of $0.09, with an ex-dividend date set for March 24th, representing an annual yield of 1.4%.

Mackenzie Financial Corp reduced its stake in STMicroelectronics N.V. (NYSE:STM - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 213,091 shares of the semiconductor producer's stock after selling 79,833 shares during the period. Mackenzie Financial Corp's holdings in STMicroelectronics were worth $4,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted 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 valued at $41,000 after acquiring an additional 1,085 shares during the period. SBI Securities Co. Ltd. lifted its position in STMicroelectronics by 57.2% during the first 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 period. Allworth Financial LP grew its stake in STMicroelectronics by 59.0% during the first quarter. Allworth Financial LP now owns 3,825 shares of the semiconductor producer's stock worth $89,000 after buying an additional 1,420 shares in the last quarter. Deutsche Bank AG increased its holdings 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 buying an additional 466 shares during the period. Finally, Whittier Trust Co. increased its holdings in STMicroelectronics by 5,767.5% in 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 during the period. Institutional investors and hedge funds own 5.05% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Dbs Bank lowered shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Baird R W raised STMicroelectronics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of STMicroelectronics in a research note on Friday, July 25th. Susquehanna upped 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. Finally, Robert W. Baird upgraded STMicroelectronics from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $23.00 to $50.00 in a research report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $32.21.

STMicroelectronics Trading Down 1.3%

NYSE STM traded down $0.33 during trading hours on Friday, reaching $25.10. The company's stock had a trading volume of 9,382,907 shares, compared to its average volume of 9,049,918. The firm has a fifty day simple moving average of $29.27 and a 200-day simple moving average of $25.56. 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. The stock has a market cap of $22.54 billion, a P/E ratio of 36.38, a P/E/G ratio of 3.94 and a beta of 1.61.

STMicroelectronics (NYSE:STM - Get Free Report) last issued 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). The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.71 billion. STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%. Equities analysts forecast that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be given 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 (DPR) is 44.93%.

STMicroelectronics Company 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.