STMicroelectronics (NYSE:STM) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its position in STMicroelectronics (NYSE:STM) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,718 shares of the semiconductor producer’s stock after buying an additional 1,275 shares during the period. Rhumbline Advisers’ holdings in STMicroelectronics were worth $775,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Van ECK Associates Corp raised its position in shares of STMicroelectronics by 11.6% in the second quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer’s stock valued at $254,388,000 after buying an additional 675,353 shares during the last quarter. Capital International Investors grew its holdings in STMicroelectronics by 2.4% in the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock valued at $135,467,000 after purchasing an additional 74,519 shares during the period. Goldman Sachs Group Inc. grew its holdings in STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after purchasing an additional 120,399 shares during the period. Rafferty Asset Management LLC grew its holdings in STMicroelectronics by 8.7% in the fourth quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock valued at $80,991,000 after purchasing an additional 129,772 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in STMicroelectronics by 0.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock valued at $61,443,000 after purchasing an additional 7,732 shares during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STM. Craig Hallum lowered their target price on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Morgan Stanley downgraded shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and boosted their target price for the company from $35.50 to $45.80 in a report on Tuesday, June 18th. Sanford C. Bernstein decreased 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. Finally, TD Cowen decreased 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. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.13.

STMicroelectronics Price Performance

Shares of STM stock opened at $27.91 on Tuesday. The company has a market capitalization of $25.21 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 3.35 and a beta of 1.58. The firm has a fifty day simple moving average of $31.68 and a 200-day simple moving average of $38.46. 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 has a twelve month low of $27.44 and a twelve month high of $51.27.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The business’s quarterly revenue was down 25.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. Equities research analysts anticipate that STMicroelectronics will post 1.66 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be paid a $0.09 dividend. The ex-dividend date of this dividend 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%.

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.