Parametric Portfolio Associates LLC increased its holdings in STMicroelectronics N.V. (NYSE:STM) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 779,765 shares of the semiconductor producer’s stock after acquiring an additional 47,371 shares during the period. Parametric Portfolio Associates LLC owned about 0.09% of STMicroelectronics N.V. worth $11,213,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in STM. PNC Financial Services Group Inc. grew its holdings in shares of STMicroelectronics N.V. by 114.9% in the first quarter. PNC Financial Services Group Inc. now owns 7,808 shares of the semiconductor producer’s stock valued at $121,000 after acquiring an additional 4,175 shares in the last quarter. Financial Architects Inc grew its holdings in shares of STMicroelectronics N.V. by 14.8% in the second quarter. Financial Architects Inc now owns 9,141 shares of the semiconductor producer’s stock valued at $132,000 after acquiring an additional 1,181 shares in the last quarter. Atria Investments LLC bought a new position in shares of STMicroelectronics N.V. in the second quarter valued at approximately $160,000. Stevens Capital Management LP bought a new position in shares of STMicroelectronics N.V. in the second quarter valued at approximately $163,000. Finally, MML Investors Services LLC bought a new position in shares of STMicroelectronics N.V. in the second quarter valued at approximately $166,000. 5.35% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on STM shares. BidaskClub lowered STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Stifel Nicolaus upgraded STMicroelectronics N.V. from a “hold” rating to a “buy” rating and dropped their price objective for the company from $14.84 to $14.50 in a research note on Tuesday, June 27th. Craig Hallum reiterated a “buy” rating on shares of STMicroelectronics N.V. in a research note on Wednesday, September 13th. Zacks Investment Research upgraded STMicroelectronics N.V. from a “sell” rating to a “hold” rating and set a $19.00 price objective on the stock in a research note on Saturday, July 29th. Finally, J P Morgan Chase & Co upgraded STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $18.38.
Shares of STMicroelectronics N.V. (NYSE:STM) opened at 20.02 on Thursday. STMicroelectronics N.V. has a 52-week low of $7.83 and a 52-week high of $20.04. The firm’s 50 day moving average price is $18.76 and its 200 day moving average price is $16.68. The stock has a market cap of $17.77 billion, a P/E ratio of 40.94 and a beta of 0.70.
STMicroelectronics N.V. (NYSE:STM) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. On average, analysts expect that STMicroelectronics N.V. will post $0.82 EPS for the current year.
STMicroelectronics N.V. declared that its board has authorized a share repurchase plan on Thursday, June 22nd that permits the company to buyback $297.00 million in outstanding shares. This buyback authorization permits the semiconductor producer to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 26th. Stockholders of record on Tuesday, September 19th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Monday, September 18th. STMicroelectronics N.V.’s dividend payout ratio is presently 40.00%.
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About STMicroelectronics N.V.
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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