Archer Investment Corp Acquires New Position in STMicroelectronics (NYSE:STM)

Archer Investment Corp bought a new position in shares of STMicroelectronics (NYSE:STM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the semiconductor producer’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds also recently bought and sold shares of STM. Waldron Private Wealth LLC acquired a new position in STMicroelectronics in the third quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of STMicroelectronics by 144.2% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 734 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of STMicroelectronics during the 2nd quarter worth about $51,000. Tompkins Financial Corp purchased a new stake in STMicroelectronics in the 3rd quarter valued at about $59,000. Finally, Covestor Ltd acquired a new position in STMicroelectronics in the third quarter valued at about $62,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on STM. Sanford C. Bernstein reduced their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Craig Hallum decreased their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. TD Cowen dropped their price objective on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 26th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Robert W. Baird cut their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Trading Down 3.1 %

NYSE:STM opened at $25.28 on Friday. The stock has a 50-day simple moving average of $27.83 and a 200-day simple moving average of $34.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. The stock has a market cap of $22.84 billion, a P/E ratio of 10.40, a P/E/G ratio of 3.15 and a beta of 1.57. STMicroelectronics has a 1 year low of $25.25 and a 1 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 analysts’ consensus estimates of $0.33 by $0.04. The business had revenue of $3.25 billion for 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%. The business’s revenue was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. As a group, analysts anticipate that STMicroelectronics will post 1.64 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. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is presently 12.35%.

About STMicroelectronics

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.