MQS Management LLC Takes $497,000 Position in STMicroelectronics (NYSE:STM)

MQS Management LLC purchased a new stake in shares of STMicroelectronics (NYSE:STM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,656 shares of the semiconductor producer’s stock, valued at approximately $497,000.

A number of other institutional investors also recently bought and sold shares of the stock. Hsbc Holdings PLC raised its position in STMicroelectronics by 28.8% in the 2nd quarter. Hsbc Holdings PLC now owns 12,025 shares of the semiconductor producer’s stock worth $473,000 after purchasing an additional 2,687 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of STMicroelectronics by 17.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,939 shares of the semiconductor producer’s stock valued at $1,045,000 after buying an additional 3,980 shares during the last quarter. Wealth Alliance purchased a new stake in shares of STMicroelectronics in the second quarter worth approximately $269,000. Dimensional Fund Advisors LP lifted its stake in shares of STMicroelectronics by 177.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after acquiring an additional 1,478,213 shares during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in STMicroelectronics by 2.9% during the 2nd quarter. Inspire Advisors LLC now owns 12,970 shares of the semiconductor producer’s stock valued at $509,000 after acquiring an additional 363 shares during the period. 5.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. TD Cowen reduced 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. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and raised their price target for the stock from $35.50 to $45.80 in a research note on Tuesday, June 18th. Sanford C. Bernstein decreased their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Morgan Stanley downgraded shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.13.

STMicroelectronics Trading Up 3.6 %

Shares of NYSE STM opened at $28.98 on Friday. STMicroelectronics has a 1-year low of $27.44 and a 1-year high of $51.27. The business has a fifty day moving average price of $32.52 and a 200 day moving average price of $38.91. The stock has a market capitalization of $26.18 billion, a P/E ratio of 7.42, a price-to-earnings-growth ratio of 3.35 and a beta of 1.58. 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 (NYSE:STM) last released its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was down 25.3% on a year-over-year basis. Equities research analysts expect that STMicroelectronics will post 1.66 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The company 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 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is currently 7.95%.

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.