STMicroelectronics (NYSE:STM) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC reduced its stake in shares of STMicroelectronics (NYSE:STM) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,990 shares of the semiconductor producer’s stock after selling 1,670 shares during the period. Highland Capital Management LLC’s holdings in STMicroelectronics were worth $1,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stifel Financial Corp raised its position in STMicroelectronics by 0.7% during the third quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock worth $2,048,000 after acquiring an additional 493 shares during the last quarter. GAMMA Investing LLC raised its position in shares of STMicroelectronics by 81.4% during the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 531 shares during the last quarter. Moran Wealth Management LLC lifted its stake in STMicroelectronics by 0.9% in the 3rd quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock valued at $2,039,000 after buying an additional 634 shares in the last quarter. Ballentine Partners LLC grew its holdings in STMicroelectronics by 7.7% during the 3rd quarter. Ballentine Partners LLC now owns 10,278 shares of the semiconductor producer’s stock valued at $306,000 after buying an additional 733 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC increased its position in STMicroelectronics by 5.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 15,267 shares of the semiconductor producer’s stock worth $454,000 after buying an additional 736 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Trading Down 8.8 %

Shares of STM opened at $22.58 on Friday. The stock has a market cap of $20.39 billion, a PE ratio of 9.29, a P/E/G ratio of 4.36 and a beta of 1.52. The stock’s 50-day moving average is $25.33 and its two-hundred day moving average is $28.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. STMicroelectronics has a 12 month low of $21.96 and a 12 month high of $49.05.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. Equities analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be given a $0.09 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.59%. STMicroelectronics’s payout ratio is currently 12.76%.

Analysts Set New Price Targets

STM has been the topic of several recent research reports. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. TD Cowen lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $25.00 in a report on Monday, January 13th. Robert W. Baird cut their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Finally, BNP Paribas initiated coverage on STMicroelectronics in a report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.11.

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.