Kornitzer Capital Management Inc. KS Buys 28,600 Shares of STMicroelectronics (NYSE:STM)

Kornitzer Capital Management Inc. KS boosted its stake in shares of STMicroelectronics (NYSE:STM - Free Report) by 19.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,126 shares of the semiconductor producer's stock after acquiring an additional 28,600 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in STMicroelectronics were worth $8,929,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Thomas J. Herzfeld Advisors Inc. raised its stake in STMicroelectronics by 548.4% during the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer's stock worth $25,000 after acquiring an additional 499 shares in the last quarter. Huntington National Bank raised its stake in STMicroelectronics by 112.7% during the third quarter. Huntington National Bank now owns 689 shares of the semiconductor producer's stock worth $30,000 after acquiring an additional 365 shares in the last quarter. Headlands Technologies LLC acquired a new position in STMicroelectronics during the third quarter worth $30,000. Spire Wealth Management raised its stake in STMicroelectronics by 125.0% during the third quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer's stock worth $31,000 after acquiring an additional 400 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in STMicroelectronics during the fourth quarter worth $40,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Trading Down 2.5 %

STM traded down $1.01 during midday trading on Friday, reaching $38.60. 3,997,688 shares of the company were exchanged, compared to its average volume of 2,877,852. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.44 and a current ratio of 3.17. STMicroelectronics has a one year low of $37.21 and a one year high of $55.85. The stock has a market capitalization of $34.85 billion, a P/E ratio of 8.65, a PEG ratio of 2.65 and a beta of 1.69. The stock's 50-day simple moving average is $44.15 and its 200 day simple moving average is $44.67.

STMicroelectronics (NYSE:STM - Get Free Report) last issued its earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.19. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. The firm had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter last year, the business earned $1.32 earnings per share. The company's revenue was down 3.2% compared to the same quarter last year. As a group, analysts forecast that STMicroelectronics will post 2.99 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, June 25th. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. This is a boost from STMicroelectronics's previous quarterly dividend of $0.06. STMicroelectronics's dividend payout ratio (DPR) is 4.48%.

Analyst Upgrades and Downgrades

STM has been the topic of several research analyst reports. Craig Hallum decreased their target price on STMicroelectronics from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, January 25th. StockNews.com cut STMicroelectronics from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 31st. HSBC initiated coverage on STMicroelectronics in a report on Thursday, February 22nd. They issued a "buy" rating on the stock. Finally, Susquehanna reiterated a "positive" rating and issued a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, STMicroelectronics has an average rating of "Moderate Buy" and an average price target of $50.75.

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.