STMicroelectronics (NYSE:STM) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in shares of STMicroelectronics (NYSE:STM) by 23.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,238 shares of the semiconductor producer’s stock after selling 3,099 shares during the period. Park Avenue Securities LLC’s holdings in STMicroelectronics were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of STM. Mather Group LLC. bought a new stake in shares of STMicroelectronics during the 1st quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of STMicroelectronics by 144.2% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after purchasing an additional 734 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of STMicroelectronics during the 2nd quarter worth approximately $51,000. Denver PWM LLC acquired a new position in STMicroelectronics during the 2nd quarter valued at approximately $72,000. Finally, Allspring Global Investments Holdings LLC bought a new position in STMicroelectronics during the 1st quarter worth $113,000. 5.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STM has been the topic of a number of recent research reports. TD Cowen cut their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Craig Hallum dropped their price target on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $35.50 to $45.80 in a report on Tuesday, June 18th. Finally, Sanford C. Bernstein reduced their price target on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.13.

STMicroelectronics Stock Performance

Shares of STM opened at $27.94 on Monday. 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 50 day moving average is $29.38 and its 200-day moving average is $36.83. STMicroelectronics has a 12-month low of $27.44 and a 12-month high of $51.27. The stock has a market capitalization of $25.24 billion, a P/E ratio of 8.68, a P/E/G ratio of 3.43 and a beta of 1.57.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The firm’s revenue was down 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 earnings per share. Equities research analysts anticipate that STMicroelectronics will post 1.63 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently disclosed 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 payout ratio is presently 9.63%.

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.