STMicroelectronics (NYSE:STM) Stock Position Increased by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in STMicroelectronics (NYSE:STM - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,735,524 shares of the semiconductor producer's stock after purchasing an additional 448,978 shares during the quarter. Van ECK Associates Corp's holdings in STMicroelectronics were worth $187,262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STM. Thomas J. Herzfeld Advisors Inc. raised its position in shares of STMicroelectronics by 548.4% during the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer's stock worth $25,000 after buying an additional 499 shares in the last quarter. Huntington National Bank raised its position in shares of STMicroelectronics by 112.7% during the 3rd quarter. Huntington National Bank now owns 689 shares of the semiconductor producer's stock worth $30,000 after buying an additional 365 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of STMicroelectronics during the 3rd quarter worth about $30,000. Spire Wealth Management raised its position in shares of STMicroelectronics by 125.0% during the 3rd quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer's stock worth $31,000 after buying an additional 400 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of STMicroelectronics during the 4th quarter worth about $40,000. 5.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on STM shares. Craig Hallum dropped their price target on shares of STMicroelectronics from $50.00 to $48.00 and set a "buy" rating on the stock in a research report on Thursday, January 25th. Berenberg Bank raised shares of STMicroelectronics from a "hold" rating to a "buy" rating in a research note on Tuesday, April 23rd. HSBC began coverage on shares of STMicroelectronics in a research note on Thursday, February 22nd. They issued a "buy" rating on the stock. Susquehanna reaffirmed a "positive" rating and issued a $55.00 price objective on shares of STMicroelectronics in a research note on Monday, April 8th. Finally, William Blair reaffirmed a "market perform" rating on shares of STMicroelectronics in a research note on Friday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.75.

STMicroelectronics Trading Down 0.4 %

Shares of STMicroelectronics stock traded down $0.16 during trading on Monday, hitting $41.17. The stock had a trading volume of 2,828,355 shares, compared to its average volume of 3,641,104. The stock has a 50 day simple moving average of $43.67 and a 200 day simple moving average of $44.53. STMicroelectronics has a 1 year low of $37.21 and a 1 year high of $55.85. The company has a market capitalization of $37.17 billion, a PE ratio of 10.56, a P/E/G ratio of 3.01 and a beta of 1.69. The company has a quick ratio of 2.58, a current ratio of 3.34 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The semiconductor producer reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.05). STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The company had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.61 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The business's revenue for the quarter was down 18.4% on a year-over-year basis. On average, research analysts expect that STMicroelectronics will post 2.74 EPS for the current fiscal year.

STMicroelectronics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, June 25th. This is an increase from STMicroelectronics's previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. STMicroelectronics's payout ratio is presently 5.13%.

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.

Want to see what other hedge funds are holding STM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STMicroelectronics (NYSE:STM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.