Wealth Enhancement Advisory Services LLC Sells 2,447 Shares of STMicroelectronics (NYSE:STM)

Wealth Enhancement Advisory Services LLC lessened its stake in shares of STMicroelectronics (NYSE:STM) by 21.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,139 shares of the semiconductor producer’s stock after selling 2,447 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in STMicroelectronics were worth $272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Portfolio Solutions LLC grew its stake in shares of STMicroelectronics by 374.5% in the first quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock worth $1,644,000 after purchasing an additional 29,999 shares during the last quarter. Washington Capital Management Inc. acquired a new position in STMicroelectronics in the third quarter valued at $1,112,000. Jane Street Group LLC lifted its holdings in STMicroelectronics by 153.8% in the first quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after buying an additional 108,152 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in STMicroelectronics in the first quarter valued at $554,000. Finally, Lazard Asset Management LLC lifted its holdings in STMicroelectronics by 1,564,831.9% in the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock valued at $46,690,000 after buying an additional 1,079,734 shares during the period. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Up 1.4 %

NYSE:STM opened at $26.87 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. The firm has a 50-day moving average of $28.09 and a 200-day moving average of $34.74. The company has a market cap of $24.27 billion, a PE ratio of 11.06, a PEG ratio of 3.22 and a beta of 1.57. STMicroelectronics has a one year low of $25.95 and a one year high of $51.27.

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

STMicroelectronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s payout ratio is 12.35%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. 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. Susquehanna dropped their target price on shares of STMicroelectronics from $35.00 to $33.00 and set a “positive” rating on the stock in a report on Friday, November 1st. TD Cowen dropped their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Finally, Robert W. Baird dropped their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, STMicroelectronics has a consensus rating of “Moderate Buy” and a consensus price target of $37.63.

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.