Woodline Partners LP Reduces Stock Holdings in STMicroelectronics (NYSE:STM)

Woodline Partners LP lowered its position in STMicroelectronics (NYSE:STM - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,045,827 shares of the semiconductor producer's stock after selling 496,943 shares during the quarter. Woodline Partners LP owned 0.34% of STMicroelectronics worth $76,054,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Clear Creek Financial Management LLC purchased a new position in shares of STMicroelectronics in the fourth quarter valued at $468,000. Callan Family Office LLC acquired a new stake in shares of STMicroelectronics during the fourth quarter valued at $486,000. Raymond James Financial Inc. acquired a new stake in shares of STMicroelectronics during the fourth quarter valued at $1,738,000. Schechter Investment Advisors LLC acquired a new stake in shares of STMicroelectronics during the fourth quarter valued at $758,000. Finally, Aigen Investment Management LP boosted its stake in shares of STMicroelectronics by 100.5% during the fourth quarter. Aigen Investment Management LP now owns 77,986 shares of the semiconductor producer's stock valued at $1,947,000 after acquiring an additional 39,082 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America lowered STMicroelectronics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Susquehanna decreased their price objective on STMicroelectronics from $33.00 to $28.00 and set a "positive" rating on the stock in a research note on Friday, January 31st. Jefferies Financial Group raised STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Dbs Bank lowered STMicroelectronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of STMicroelectronics in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, STMicroelectronics currently has a consensus rating of "Hold" and an average target price of $30.97.

STMicroelectronics Trading Down 2.8%

NYSE:STM traded down $0.72 during mid-day trading on Friday, reaching $24.46. The company's stock had a trading volume of 7,651,988 shares, compared to its average volume of 5,739,575. The company's fifty day simple moving average is $22.56 and its two-hundred day simple moving average is $24.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37. STMicroelectronics has a twelve month low of $17.25 and a twelve month high of $45.39. The stock has a market cap of $21.97 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.16 and a beta of 1.53.

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

STMicroelectronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, June 24th. STMicroelectronics's dividend payout ratio is currently 25.42%.

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.