Assetmark Inc. Purchases 6,709 Shares of STMicroelectronics (NYSE:STM)

Assetmark Inc. raised its holdings in shares of STMicroelectronics (NYSE:STM) by 14.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,748 shares of the semiconductor producer’s stock after acquiring an additional 6,709 shares during the period. Assetmark Inc.’s holdings in STMicroelectronics were worth $1,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bleakley Financial Group LLC grew its holdings in shares of STMicroelectronics by 6.3% during the 1st quarter. Bleakley Financial Group LLC now owns 5,051 shares of the semiconductor producer’s stock valued at $218,000 after purchasing an additional 298 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of STMicroelectronics by 2.9% during the second quarter. Inspire Advisors LLC now owns 12,970 shares of the semiconductor producer’s stock valued at $509,000 after buying an additional 363 shares during the last quarter. Gallacher Capital Management LLC increased its holdings in shares of STMicroelectronics by 4.6% in the second quarter. Gallacher Capital Management LLC now owns 9,783 shares of the semiconductor producer’s stock worth $384,000 after buying an additional 427 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of STMicroelectronics by 6.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 8,967 shares of the semiconductor producer’s stock worth $352,000 after buying an additional 564 shares during the period. Finally, Earnest Partners LLC boosted its holdings in STMicroelectronics by 5.9% during the 1st quarter. Earnest Partners LLC now owns 11,834 shares of the semiconductor producer’s stock valued at $512,000 after acquiring an additional 657 shares during the period. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $26.11 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. STMicroelectronics has a 1 year low of $25.69 and a 1 year high of $51.27. The company’s 50-day moving average is $27.89 and its 200 day moving average is $34.52. The stock has a market capitalization of $23.59 billion, a P/E ratio of 10.74, a P/E/G ratio of 3.30 and a beta of 1.57.

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

STMicroelectronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is presently 12.76%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STM. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. TD Cowen dropped their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Robert W. Baird decreased their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Craig Hallum dropped their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.