Syon Capital LLC Sells 354 Shares of STMicroelectronics (NYSE:STM)

Syon Capital LLC trimmed its position in STMicroelectronics (NYSE:STM) by 4.7% during the 4th quarter, HoldingsChannel reports. The firm owned 7,237 shares of the semiconductor producer’s stock after selling 354 shares during the quarter. Syon Capital LLC’s holdings in STMicroelectronics were worth $363,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CWM LLC raised its holdings in shares of STMicroelectronics by 28.8% during the 3rd quarter. CWM LLC now owns 1,865 shares of the semiconductor producer’s stock worth $80,000 after acquiring an additional 417 shares in the last quarter. Simplicity Solutions LLC lifted its position in STMicroelectronics by 8.4% during the third quarter. Simplicity Solutions LLC now owns 4,717 shares of the semiconductor producer’s stock valued at $204,000 after purchasing an additional 366 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of STMicroelectronics by 7.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 24,086 shares of the semiconductor producer’s stock worth $1,040,000 after buying an additional 1,639 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of STMicroelectronics in the 3rd quarter worth about $254,000. Finally, Hexagon Capital Partners LLC raised its position in shares of STMicroelectronics by 53.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,192 shares of the semiconductor producer’s stock valued at $51,000 after buying an additional 413 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. William Blair restated a “market perform” rating on shares of STMicroelectronics in a research report on Friday. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday. HSBC assumed coverage on shares of STMicroelectronics in a research note on Thursday, February 22nd. They set a “buy” rating for the company. Berenberg Bank raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Susquehanna reaffirmed a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.75.

STMicroelectronics Stock Performance

STM stock opened at $41.33 on Friday. The firm has a market cap of $37.31 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 2.76 and a beta of 1.69. STMicroelectronics has a twelve month low of $37.21 and a twelve month high of $55.85. The company has a quick ratio of 2.44, a current ratio of 3.17 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $43.75 and its two-hundred day simple moving average is $44.56.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.05). The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.61 billion. STMicroelectronics had a return on equity of 23.52% and a net margin of 22.30%. The company’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. Analysts predict that STMicroelectronics will post 2.74 earnings per share for the current year.

STMicroelectronics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be issued a $0.09 dividend. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. STMicroelectronics’s payout ratio is presently 5.13%.

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.