Mercer Global Advisors Inc. ADV Sells 2,316 Shares of STMicroelectronics (NYSE:STM)

Mercer Global Advisors Inc. ADV reduced its position in shares of STMicroelectronics (NYSE:STM) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,716 shares of the semiconductor producer’s stock after selling 2,316 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in STMicroelectronics were worth $3,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in STMicroelectronics by 16.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock valued at $38,572,000 after buying an additional 109,477 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of STMicroelectronics by 1.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 37,738 shares of the semiconductor producer’s stock valued at $1,892,000 after purchasing an additional 413 shares during the period. Assetmark Inc. grew its stake in shares of STMicroelectronics by 8.8% during the fourth quarter. Assetmark Inc. now owns 39,467 shares of the semiconductor producer’s stock worth $1,978,000 after purchasing an additional 3,195 shares during the period. Franklin Resources Inc. grew its stake in shares of STMicroelectronics by 4.7% during the fourth quarter. Franklin Resources Inc. now owns 16,228 shares of the semiconductor producer’s stock worth $814,000 after purchasing an additional 724 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in STMicroelectronics by 59.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the semiconductor producer’s stock valued at $83,000 after buying an additional 620 shares during the period. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Down 3.6 %

Shares of STMicroelectronics stock opened at $27.94 on Monday. The firm has a market cap of $25.24 billion, a PE ratio of 7.16, a P/E/G ratio of 3.35 and a beta of 1.58. The business’s 50 day simple moving average is $31.97 and its 200 day simple moving average is $38.60. 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 has a 52-week low of $27.44 and a 52-week high of $51.27.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the company earned $1.06 earnings per share. The firm’s revenue was down 25.3% compared to the same quarter last year. On average, analysts predict that STMicroelectronics will post 1.66 earnings per share for the current fiscal year.

STMicroelectronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be given 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 dividend payout ratio (DPR) is presently 7.69%.

Analysts Set New Price Targets

STM has been the subject of a number of recent analyst reports. TD Cowen lowered their price target on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Morgan Stanley lowered shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Craig Hallum decreased their price target on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Sanford C. Bernstein dropped their price objective on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Finally, StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.13.

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.