STMicroelectronics (NYSE:STM) Shares Sold by Raymond James & Associates

Posted by Defense World Staff on May 23rd, 2023

Raymond James & Associates decreased its position in shares of STMicroelectronics (NYSE:STM – Get Rating) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,484 shares of the semiconductor producer’s stock after selling 748 shares during the period. Raymond James & Associates’ holdings in STMicroelectronics were worth $4,890,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. acquired a new position in STMicroelectronics during the 4th quarter worth about $36,000. Ellevest Inc. lifted its stake in 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 acquiring an additional 1,004 shares in the last quarter. CWM LLC lifted its stake in STMicroelectronics by 17.2% during the 4th quarter. CWM LLC now owns 2,090 shares of the semiconductor producer’s stock worth $74,000 after acquiring an additional 307 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in STMicroelectronics by 49.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,789 shares of the semiconductor producer’s stock worth $77,000 after acquiring an additional 589 shares in the last quarter. Finally, IFP Advisors Inc raised its position in STMicroelectronics by 26.8% in the 3rd quarter. IFP Advisors Inc now owns 2,676 shares of the semiconductor producer’s stock valued at $78,000 after purchasing an additional 566 shares in the last quarter. Institutional investors and hedge funds own 6.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on STM shares. Cowen increased their price target on STMicroelectronics from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Sanford C. Bernstein increased their price target on STMicroelectronics from $45.00 to $55.00 in a research report on Thursday, February 16th. Susquehanna reduced their price target on STMicroelectronics from 55.00 to 54.00 in a research report on Sunday, May 7th. StockNews.com raised STMicroelectronics from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 12th. Finally, Craig Hallum raised their target price on STMicroelectronics from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.22.

STMicroelectronics Trading Up 0.8 %

STM opened at $45.41 on Tuesday. The firm has a market cap of $41.25 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. STMicroelectronics has a 52 week low of $28.35 and a 52 week high of $53.53. The business’s 50 day moving average is $47.26 and its two-hundred day moving average is $43.69. The company has a quick ratio of 1.87, a current ratio of 2.58 and a debt-to-equity ratio of 0.18.

STMicroelectronics (NYSE:STM – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The semiconductor producer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.97 by $0.13. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.19 billion. STMicroelectronics had a return on equity of 35.62% and a net margin of 25.30%. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, research analysts predict that STMicroelectronics will post 4.25 EPS for the current year.

STMicroelectronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Tuesday, June 27th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.53%. The ex-dividend date is Monday, June 26th. STMicroelectronics’s dividend payout ratio (DPR) is 4.44%.

STMicroelectronics Profile

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STMicroelectronics NV engages in the design, development, manufacture, and marketing of 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, MEMS and Sensors Group, and Microcontrollers and Digital ICs Group.