Keynote Financial Services LLC Raises Position in STMicroelectronics (NYSE:STM)

Keynote Financial Services LLC boosted its position in shares of STMicroelectronics (NYSE:STM) by 8.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,860 shares of the semiconductor producer’s stock after buying an additional 1,370 shares during the period. Keynote Financial Services LLC’s holdings in STMicroelectronics were worth $501,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of STMicroelectronics by 26.5% during the third quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after purchasing an additional 1,719,257 shares in the last quarter. Capital International Investors raised its position in shares of STMicroelectronics by 2.4% in the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock valued at $135,467,000 after buying an additional 74,519 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after buying an additional 1,478,213 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of STMicroelectronics by 0.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock worth $61,443,000 after buying an additional 7,732 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in STMicroelectronics by 1,564,831.9% during the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after acquiring an additional 1,079,734 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on STM. Craig Hallum decreased their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Sanford C. Bernstein reduced their price objective on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Robert W. Baird dropped their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Morgan Stanley downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday. Finally, TD Cowen lowered their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Trading Up 2.4 %

STM opened at $27.14 on Friday. STMicroelectronics has a 52 week low of $25.95 and a 52 week high of $51.27. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $28.30 and a 200-day simple moving average of $35.02. The firm has a market cap of $24.52 billion, a P/E ratio of 11.17, a P/E/G ratio of 3.16 and a beta of 1.57.

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

STMicroelectronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is presently 12.35%.

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.