STMicroelectronics (NYSE:STM) Shares Bought by Naviter Wealth LLC

Naviter Wealth LLC raised its position in STMicroelectronics (NYSE:STM) by 25.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,945 shares of the semiconductor producer’s stock after acquiring an additional 2,833 shares during the period. Naviter Wealth LLC’s holdings in STMicroelectronics were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in STM. Van ECK Associates Corp increased its position in STMicroelectronics by 11.6% during the 2nd quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer’s stock worth $254,388,000 after purchasing an additional 675,353 shares during the period. Capital International Investors raised its position in STMicroelectronics by 2.4% in the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock worth $135,467,000 after acquiring an additional 74,519 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after acquiring an additional 1,478,213 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of STMicroelectronics by 0.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock worth $61,443,000 after purchasing an additional 7,732 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of STMicroelectronics by 1,564,831.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after purchasing an additional 1,079,734 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

STM stock opened at $27.43 on Friday. The company has a market cap of $24.78 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 3.48 and a beta of 1.57. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $29.25 and a two-hundred day moving average price of $36.49. STMicroelectronics has a 12-month low of $26.63 and a 12-month high of $51.27.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the business earned $1.06 EPS. The company’s revenue for the quarter was down 25.3% on a year-over-year basis. As a group, research analysts predict that STMicroelectronics will post 1.63 EPS for the current year.

STMicroelectronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is presently 9.63%.

Analysts Set New Price Targets

Several brokerages recently commented on STM. Sanford C. Bernstein reduced their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. TD Cowen reduced their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Craig Hallum reduced their price objective on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.13.

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.