Covestor Ltd Takes Position in STMicroelectronics (NYSE:STM)

Covestor Ltd bought a new position in STMicroelectronics (NYSE:STM) during the 3rd quarter, Holdings Channel reports. The firm bought 2,083 shares of the semiconductor producer’s stock, valued at approximately $62,000.

Several other large investors also recently made changes to their positions in STM. Orion Portfolio Solutions LLC lifted its holdings in STMicroelectronics by 374.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock worth $1,644,000 after buying an additional 29,999 shares in the last quarter. Washington Capital Management Inc. acquired a new position in shares of STMicroelectronics during the third quarter valued at $1,112,000. Jane Street Group LLC boosted its holdings in STMicroelectronics by 153.8% in the first quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after acquiring an additional 108,152 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in STMicroelectronics in the first quarter worth about $554,000. Finally, Lazard Asset Management LLC boosted its stake in STMicroelectronics by 1,564,831.9% in the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock valued at $46,690,000 after acquiring an additional 1,079,734 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Robert W. Baird dropped their price objective on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Susquehanna cut their price target on shares of STMicroelectronics from $35.00 to $33.00 and set a “positive” rating on the stock in a research note on Friday, November 1st. Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. TD Cowen cut their price objective 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. Finally, StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.63.

STMicroelectronics Stock Up 0.9 %

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

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating the consensus estimate of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was down 26.6% compared to the same quarter last year. On average, equities analysts predict that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 yield of 1.38%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s payout ratio is currently 12.76%.

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.