TPG Advisors LLC Invests $377,000 in STMicroelectronics (NYSE:STM)

TPG Advisors LLC acquired a new stake in STMicroelectronics (NYSE:STM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,603 shares of the semiconductor producer’s stock, valued at approximately $377,000.

A number of other hedge funds have also made changes to their positions in STM. Mather Group LLC. acquired a new stake in STMicroelectronics in the 1st quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. lifted its stake in STMicroelectronics by 144.2% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after purchasing an additional 734 shares during the last quarter. Ridgewood Investments LLC bought a new stake in STMicroelectronics during the second quarter worth approximately $51,000. Principal Securities Inc. acquired a new position in STMicroelectronics in the fourth quarter worth approximately $70,000. Finally, Denver PWM LLC bought a new position in shares of STMicroelectronics in the second quarter valued at $72,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Craig Hallum decreased their target price on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Sanford C. Bernstein dropped their price target on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. TD Cowen reduced their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 26th. The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and raised their target price for the stock from $35.50 to $45.80 in a report on Tuesday, June 18th. Finally, StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.13.

STMicroelectronics Stock Down 3.6 %

STM stock opened at $27.94 on Friday. The company has a 50 day moving average of $31.97 and a two-hundred day moving average of $38.71. The company has a market cap of $25.24 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 3.35 and a beta of 1.58. STMicroelectronics has a 12-month low of $27.44 and a 12-month high of $51.27. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, beating 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 firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The business’s quarterly revenue was down 25.3% compared to the same quarter last year. On average, equities analysts anticipate that STMicroelectronics will post 1.66 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 1.29%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is presently 7.69%.

About STMicroelectronics

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.