Fairscale Capital LLC Makes New $209,000 Investment in STMicroelectronics (NYSE:STM)

Fairscale Capital LLC purchased a new position in STMicroelectronics (NYSE:STM) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,900 shares of the semiconductor producer’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in STMicroelectronics in the second quarter worth about $589,000. Frank Rimerman Advisors LLC purchased a new stake in STMicroelectronics during the second quarter valued at about $356,000. TPG Advisors LLC purchased a new stake in STMicroelectronics during the second quarter valued at about $377,000. MQS Management LLC purchased a new stake in STMicroelectronics during the second quarter valued at about $497,000. Finally, Hsbc Holdings PLC lifted its stake in STMicroelectronics by 28.8% during the second quarter. Hsbc Holdings PLC now owns 12,025 shares of the semiconductor producer’s stock valued at $473,000 after buying an additional 2,687 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Trading Down 3.6 %

NYSE:STM opened at $27.94 on Friday. The stock’s 50 day moving average price is $31.97 and its 200 day moving average price is $38.66. STMicroelectronics has a 52 week low of $27.44 and a 52 week high of $51.27. The company has a market capitalization of $25.24 billion, a P/E ratio of 7.16, a P/E/G ratio of 3.35 and a beta of 1.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 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 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 prior year, the company posted $1.06 earnings per share. The firm’s revenue was down 25.3% on a year-over-year basis. On average, research analysts forecast that STMicroelectronics will post 1.66 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a yield of 1.29%. STMicroelectronics’s dividend payout ratio (DPR) is presently 7.69%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. 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. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday. Craig Hallum dropped 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. Morgan Stanley downgraded STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Finally, TD Cowen dropped their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, STMicroelectronics presently has an average rating of “Moderate Buy” and an average target price of $43.13.

STMicroelectronics Company 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.