Creative Planning Acquires 6,509 Shares of STMicroelectronics (NYSE:STM)

Creative Planning grew its holdings in shares of STMicroelectronics (NYSE:STM) by 10.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,113 shares of the semiconductor producer’s stock after purchasing an additional 6,509 shares during the quarter. Creative Planning’s holdings in STMicroelectronics were worth $1,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in STMicroelectronics by 11.6% during the second quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer’s stock worth $254,388,000 after purchasing an additional 675,353 shares during the period. Capital International Investors boosted its position in STMicroelectronics by 2.4% during the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock worth $135,467,000 after purchasing an additional 74,519 shares during the period. Dimensional Fund Advisors LP boosted its position in STMicroelectronics by 177.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after purchasing an additional 1,478,213 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in STMicroelectronics by 0.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock worth $61,443,000 after purchasing an additional 7,732 shares during the period. Finally, Lazard Asset Management LLC boosted its position in STMicroelectronics by 1,564,831.9% during the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after purchasing an additional 1,079,734 shares during the period. Institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on STM. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Susquehanna cut their price objective on shares of STMicroelectronics from $45.00 to $35.00 and set a “positive” rating for the company in a research report on Monday, October 21st. TD Cowen cut their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Morgan Stanley lowered shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Finally, Sanford C. Bernstein cut their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, STMicroelectronics has an average rating of “Moderate Buy” and an average price target of $39.80.

STMicroelectronics Trading Up 1.2 %

Shares of STM opened at $28.55 on Tuesday. The firm’s 50 day simple moving average is $28.95 and its 200 day simple moving average is $35.69. The company has a market capitalization of $25.79 billion, a P/E ratio of 8.87, a P/E/G ratio of 3.47 and a beta of 1.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. STMicroelectronics has a 1-year low of $26.63 and a 1-year high of $51.27.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be paid 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 dividend payout ratio is currently 9.63%.

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.