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US Bancorp DE Sells 11,965 Shares of STMicroelectronics N.V. (NYSE:STM)

STMicroelectronics logo with Computer and Technology background

Key Points

  • US Bancorp DE reduced its stake in STMicroelectronics by 17.6%, selling 11,965 shares for a total ownership of 56,004 shares worth $1,230,000.
  • Several institutional investors, including Two Sigma Investments LP and Invesco Ltd., significantly increased their holdings in STMicroelectronics during the fourth quarter, highlighting growing interest in the company's stock.
  • STMicroelectronics reported $0.06 earnings per share for the last quarter, missing the consensus estimate, while announcing a quarterly dividend of $0.09 per share with a yield of 1.4%.
  • Looking to Export and Analyze STMicroelectronics Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

US Bancorp DE decreased its position in shares of STMicroelectronics N.V. (NYSE:STM - Free Report) by 17.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,004 shares of the semiconductor producer's stock after selling 11,965 shares during the period. US Bancorp DE's holdings in STMicroelectronics were worth $1,230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STM. Farther Finance Advisors LLC lifted its position in 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 acquiring an additional 1,085 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in 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 last quarter. Allworth Financial LP lifted its position in 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. Deutsche Bank AG lifted its position in 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 acquiring an additional 466 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in 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

STMicroelectronics stock traded up $0.35 during trading hours on Friday, hitting $25.18. 5,857,508 shares of the stock were exchanged, compared to its average volume of 8,901,545. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 2.74. The stock has a market capitalization of $22.62 billion, a P/E ratio of 36.49, a P/E/G ratio of 3.96 and a beta of 1.61. STMicroelectronics N.V. has a 12 month low of $17.25 and a 12 month high of $33.47. The business's 50-day moving average is $29.26 and its two-hundred day moving average is $25.54.

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 the consensus estimate of $0.10 by ($0.04). The firm had revenue of $2.77 billion for 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%. Equities research analysts expect that STMicroelectronics N.V. will post 0.85 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently declared 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. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 24th. STMicroelectronics's dividend payout ratio is 44.93%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on STM shares. Susquehanna upped their price objective on shares of STMicroelectronics from $30.00 to $40.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Robert W. Baird raised shares of STMicroelectronics from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $23.00 to $50.00 in a research report on Tuesday, July 22nd. Baird R W raised shares of STMicroelectronics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Craig Hallum lowered shares of STMicroelectronics from a "buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a research report on Thursday, July 24th. Finally, Oddo Bhf raised shares of STMicroelectronics to an "outperform" rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $32.21.

Read Our Latest Analysis on STMicroelectronics

STMicroelectronics Profile

(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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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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