Stifel Financial Corp Raises Stock Position in STMicroelectronics (NYSE:STM)

Stifel Financial Corp lifted its position in STMicroelectronics (NYSE:STM) by 0.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,885 shares of the semiconductor producer’s stock after purchasing an additional 493 shares during the period. Stifel Financial Corp’s holdings in STMicroelectronics were worth $2,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of STM. Truvestments Capital LLC purchased a new stake in shares of STMicroelectronics in the 3rd quarter worth $25,000. Archer Investment Corp purchased a new stake in STMicroelectronics in the third quarter worth about $30,000. Waldron Private Wealth LLC bought a new position in STMicroelectronics during the 3rd quarter worth about $34,000. Whittier Trust Co. of Nevada Inc. increased its position in STMicroelectronics by 144.2% during the 2nd 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 period. Finally, Ridgewood Investments LLC bought a new stake in shares of STMicroelectronics in the 2nd quarter valued at about $51,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Down 1.9 %

NYSE STM opened at $24.48 on Friday. The stock has a market cap of $22.12 billion, a P/E ratio of 10.07, a P/E/G ratio of 3.20 and a beta of 1.53. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. STMicroelectronics has a 12-month low of $23.95 and a 12-month high of $50.94. The company has a fifty day simple moving average of $26.43 and a two-hundred day simple moving average of $31.83.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The firm’s revenue was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS. On average, analysts forecast that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio is presently 12.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STM shares. BNP Paribas assumed coverage on shares of STMicroelectronics in a research note on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price objective on the stock. Susquehanna reiterated a “positive” rating and issued a $33.00 price target on shares of STMicroelectronics in a report on Thursday, November 21st. Craig Hallum reduced their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Robert W. Baird decreased their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.26.

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.