Wealth Alliance Acquires New Shares in STMicroelectronics (NYSE:STM)

Wealth Alliance bought a new position in STMicroelectronics (NYSE:STM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,846 shares of the semiconductor producer’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. bought a new position in shares of STMicroelectronics during the 1st quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. raised its holdings in 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 buying an additional 734 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of STMicroelectronics in the second quarter worth about $51,000. Principal Securities Inc. bought a new stake in shares of STMicroelectronics during the 4th quarter worth about $70,000. Finally, Denver PWM LLC acquired a new position in shares of STMicroelectronics during the 2nd quarter valued at about $72,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STM shares. Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. TD Cowen decreased their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. Sanford C. Bernstein dropped their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group upgraded STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $35.50 to $45.80 in a research note on Tuesday, June 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.13.

STMicroelectronics Stock Down 3.6 %

NYSE STM opened at $27.94 on Friday. STMicroelectronics has a twelve month low of $27.44 and a twelve month high of $51.27. The stock has a market cap of $25.24 billion, a PE ratio of 7.16, a PEG ratio of 3.35 and a beta of 1.58. The firm has a 50-day simple moving average of $32.26 and a 200 day simple moving average of $38.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35.

STMicroelectronics (NYSE:STM) last announced 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 company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. STMicroelectronics’s revenue for the quarter 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, research analysts forecast that STMicroelectronics will post 1.66 EPS for the current year.

STMicroelectronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. 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 payout ratio is 7.69%.

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.