Frank Rimerman Advisors LLC Makes New $356,000 Investment in STMicroelectronics (NYSE:STM)

Frank Rimerman Advisors LLC bought a new stake in shares of STMicroelectronics (NYSE:STM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,060 shares of the semiconductor producer’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also made changes to their positions in STM. Dimensional Fund Advisors LP boosted its position in STMicroelectronics by 16.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock valued at $38,572,000 after purchasing an additional 109,477 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of STMicroelectronics by 374.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock valued at $1,644,000 after buying an additional 29,999 shares in the last quarter. Jane Street Group LLC raised its stake in shares of STMicroelectronics by 153.8% during the 1st quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock worth $7,718,000 after acquiring an additional 108,152 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of STMicroelectronics by 5.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after acquiring an additional 120,399 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in STMicroelectronics during the first quarter valued at approximately $554,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STM has been the topic of a number of recent analyst reports. Sanford C. Bernstein reduced their price target on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Craig Hallum dropped their price target on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and upped their price objective for the company from $35.50 to $45.80 in a report on Tuesday, June 18th. Finally, TD Cowen lowered their target price 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.13.

STMicroelectronics Stock Up 2.0 %

STM stock opened at $28.46 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. The firm’s fifty day simple moving average is $31.40 and its 200-day simple moving average is $38.33. STMicroelectronics has a 12 month low of $27.44 and a 12 month high of $51.27. The company has a market capitalization of $25.71 billion, a P/E ratio of 7.30, a price-to-earnings-growth ratio of 3.36 and a beta of 1.58.

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

STMicroelectronics Dividend Announcement

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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s payout ratio is presently 7.95%.

STMicroelectronics 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.