AMP Capital Investors Ltd trimmed its position in shares of STMicroelectronics N.V. (NYSE:STM) by 35.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,267 shares of the semiconductor producer’s stock after selling 41,500 shares during the quarter. AMP Capital Investors Ltd’s holdings in STMicroelectronics were worth $1,462,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of STM. Quadrant Capital Group LLC lifted its position in shares of STMicroelectronics by 5.0% in the second quarter. Quadrant Capital Group LLC now owns 9,105 shares of the semiconductor producer’s stock valued at $127,000 after acquiring an additional 433 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of STMicroelectronics by 22.6% in the second quarter. PNC Financial Services Group Inc. now owns 9,573 shares of the semiconductor producer’s stock valued at $138,000 after acquiring an additional 1,765 shares in the last quarter. Thompson Davis & CO. Inc. lifted its position in shares of STMicroelectronics by 225.2% in the third quarter. Thompson Davis & CO. Inc. now owns 8,000 shares of the semiconductor producer’s stock valued at $155,000 after acquiring an additional 5,540 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of STMicroelectronics in the second quarter valued at $156,000. Finally, Stevens Capital Management LP purchased a new stake in shares of STMicroelectronics in the second quarter valued at $163,000. Institutional investors own 5.09% of the company’s stock.
Several analysts have recently issued reports on STM shares. Zacks Investment Research upgraded STMicroelectronics from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, October 31st. Craig Hallum upped their price objective on STMicroelectronics from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, ValuEngine downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $21.88.
STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 26th. The semiconductor producer reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. STMicroelectronics had a return on equity of 13.47% and a net margin of 7.84%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. analysts predict that STMicroelectronics N.V. will post 0.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Tuesday, December 19th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, December 18th. This represents a $0.24 annualized dividend and a yield of 1.08%. STMicroelectronics’s dividend payout ratio (DPR) is presently 29.41%.
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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