Itau Unibanco Holding S.A. Invests $589,000 in STMicroelectronics (NYSE:STM)

Itau Unibanco Holding S.A. acquired a new stake in STMicroelectronics (NYSE:STM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,000 shares of the semiconductor producer’s stock, valued at approximately $589,000.

A number of other institutional investors also recently bought and sold shares of STM. Mather Group LLC. purchased a new position in shares of STMicroelectronics in the first quarter worth $28,000. Whittier Trust Co. of Nevada Inc. raised its stake in STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after acquiring an additional 734 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in STMicroelectronics during the 2nd quarter worth about $51,000. EverSource Wealth Advisors LLC grew its stake in STMicroelectronics by 59.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the semiconductor producer’s stock valued at $83,000 after purchasing an additional 620 shares during the last quarter. Finally, Denver PWM LLC acquired a new position in shares of STMicroelectronics in the second quarter valued at about $72,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Stock Performance

Shares of STM stock opened at $27.94 on Friday. 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. STMicroelectronics has a 12-month low of $27.44 and a 12-month high of $51.27. The business’s 50 day moving average is $31.97 and its two-hundred day moving average is $38.66. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The business’s revenue was down 25.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 EPS. Analysts expect 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. Investors of record on Tuesday, December 17th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.29%. STMicroelectronics’s dividend payout ratio (DPR) is presently 7.69%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group raised 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. Craig Hallum reduced their price objective on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Sanford C. Bernstein dropped their target price on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Finally, StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday. 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, the stock presently has a consensus 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.