SG Americas Securities LLC Sells 4,688 Shares of STMicroelectronics (NYSE:STM)

SG Americas Securities LLC cut its holdings in shares of STMicroelectronics (NYSE:STM) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,187 shares of the semiconductor producer’s stock after selling 4,688 shares during the period. SG Americas Securities LLC’s holdings in STMicroelectronics were worth $1,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of STMicroelectronics during the second quarter worth $2,280,000. Creative Planning lifted its position in STMicroelectronics by 36.6% during the 2nd quarter. Creative Planning now owns 59,604 shares of the semiconductor producer’s stock worth $2,341,000 after buying an additional 15,985 shares in the last quarter. Scientech Research LLC bought a new stake in STMicroelectronics during the 2nd quarter worth about $381,000. Lighthouse Investment Partners LLC increased its position in STMicroelectronics by 25.0% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 50,000 shares of the semiconductor producer’s stock valued at $1,975,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Bank of Montreal Can increased its position in STMicroelectronics by 50.3% in the 2nd quarter. Bank of Montreal Can now owns 47,425 shares of the semiconductor producer’s stock valued at $1,903,000 after acquiring an additional 15,870 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

Shares of STM opened at $27.99 on Wednesday. The stock has a market cap of $25.29 billion, a P/E ratio of 7.18, a price-to-earnings-growth ratio of 3.52 and a beta of 1.57. STMicroelectronics has a 1 year low of $27.44 and a 1 year high of $51.27. The stock’s 50-day moving average price is $29.60 and its two-hundred day moving average price is $37.16. 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 released its quarterly earnings data 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 business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. STMicroelectronics’s quarterly revenue was down 25.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 EPS. On average, equities analysts predict that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is currently 7.69%.

Analyst Ratings Changes

Several analysts have recently commented on STM shares. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. TD Cowen reduced their price objective on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, July 26th. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their target price for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. Sanford C. Bernstein cut 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. Finally, Morgan Stanley lowered STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, STMicroelectronics presently has a consensus rating of “Moderate Buy” and an average price target 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.