Engineers Gate Manager LP decreased its stake in shares of STMicroelectronics (NYSE:STM – Get Rating) by 16.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,627 shares of the semiconductor producer’s stock after selling 3,105 shares during the quarter. Engineers Gate Manager LP’s holdings in STMicroelectronics were worth $483,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new position in shares of STMicroelectronics during the 2nd quarter worth about $39,000. Ellevest Inc. increased its holdings in shares of STMicroelectronics by 286.0% during the 3rd quarter. Ellevest Inc. now owns 1,355 shares of the semiconductor producer’s stock worth $42,000 after purchasing an additional 1,004 shares during the period. Janiczek Wealth Management LLC increased its stake in STMicroelectronics by 439.0% in the third quarter. Janiczek Wealth Management LLC now owns 1,466 shares of the semiconductor producer’s stock valued at $47,000 after acquiring an additional 1,194 shares during the period. CWM LLC increased its stake in STMicroelectronics by 49.5% in the third quarter. CWM LLC now owns 1,783 shares of the semiconductor producer’s stock valued at $55,000 after acquiring an additional 590 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in STMicroelectronics by 49.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,789 shares of the semiconductor producer’s stock valued at $77,000 after acquiring an additional 589 shares during the period. Institutional investors own 6.49% of the company’s stock.
Wall Street Analysts Forecast Growth
STM has been the topic of a number of analyst reports. Cowen upped their target price on shares of STMicroelectronics from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. StockNews.com raised shares of STMicroelectronics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 26th. Susquehanna upped their target price on shares of STMicroelectronics from $50.00 to $55.00 and gave the company a “positive” rating in a research note on Friday, January 27th. The Goldman Sachs Group cut shares of STMicroelectronics from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 10th. Finally, Craig Hallum upped their price objective on shares of STMicroelectronics from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.70.
STMicroelectronics Price Performance
STMicroelectronics (NYSE:STM – Get Rating) last announced its earnings results on Thursday, January 26th. The semiconductor producer reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. STMicroelectronics had a net margin of 24.56% and a return on equity of 36.19%. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the business earned $0.82 earnings per share. STMicroelectronics’s quarterly revenue was up 24.4% on a year-over-year basis. Sell-side analysts forecast that STMicroelectronics will post 4.14 EPS for the current fiscal year.
STMicroelectronics Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 21st will be given a dividend of $0.06 per share. The ex-dividend date is Monday, March 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.50%. STMicroelectronics’s payout ratio is 4.77%.
STMicroelectronics Company Profile
STMicroelectronics NV designs, develops, manufactures and markets products, which offers discrete and standard commodity components, application-specific integrated circuits, full custom devices and semi-custom devices for analog, digital and mixed-signal applications. It operates through the following segments: Automotive and Discrete Group, Analog and MEMS Group, and Microcontrollers and Digital ICs Group.
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