Washington Capital Management Inc. Purchases 15,020 Shares of STMicroelectronics (NYSE:STM)

Washington Capital Management Inc. increased its position in STMicroelectronics (NYSE:STM - Free Report) by 40.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,435 shares of the semiconductor producer's stock after purchasing an additional 15,020 shares during the quarter. STMicroelectronics makes up 0.9% of Washington Capital Management Inc.'s holdings, making the stock its 21st largest position. Washington Capital Management Inc.'s holdings in STMicroelectronics were worth $1,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of STM. Callan Family Office LLC acquired a new stake in STMicroelectronics during the fourth quarter worth approximately $486,000. Raymond James Financial Inc. acquired a new stake in STMicroelectronics during the fourth quarter worth approximately $1,738,000. Schechter Investment Advisors LLC acquired a new stake in STMicroelectronics during the fourth quarter worth approximately $758,000. Aigen Investment Management LP lifted its position in STMicroelectronics by 100.5% during the fourth quarter. Aigen Investment Management LP now owns 77,986 shares of the semiconductor producer's stock worth $1,947,000 after acquiring an additional 39,082 shares during the last quarter. Finally, US Bancorp DE lifted its position in STMicroelectronics by 54.9% during the fourth quarter. US Bancorp DE now owns 67,969 shares of the semiconductor producer's stock worth $1,697,000 after acquiring an additional 24,096 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Stock Performance

NYSE STM opened at $28.46 on Friday. The firm's fifty day moving average price is $23.10 and its two-hundred day moving average price is $24.26. The stock has a market cap of $25.56 billion, a PE ratio of 17.14, a PEG ratio of 1.16 and a beta of 1.56. STMicroelectronics has a fifty-two week low of $17.25 and a fifty-two week high of $45.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.55 billion. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. On average, equities analysts expect that STMicroelectronics will post 0.85 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The firm 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 $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.36 annualized dividend and a dividend yield of 1.26%. STMicroelectronics's dividend payout ratio is 25.42%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley upgraded shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a report on Friday, April 25th. Jefferies Financial Group raised shares of STMicroelectronics from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Dbs Bank cut shares of STMicroelectronics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, TD Cowen raised their target price on shares of STMicroelectronics from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $30.97.

STMicroelectronics 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.

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