Denver PWM LLC Takes Position in STMicroelectronics (NYSE:STM)

Denver PWM LLC bought a new position in shares of STMicroelectronics (NYSE:STM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,827 shares of the semiconductor producer’s stock, valued at approximately $72,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STM. Dimensional Fund Advisors LP lifted its holdings in STMicroelectronics by 16.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock valued at $38,572,000 after acquiring an additional 109,477 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in STMicroelectronics by 374.5% during the first quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock valued at $1,644,000 after purchasing an additional 29,999 shares during the last quarter. Jane Street Group LLC lifted its stake in STMicroelectronics by 153.8% during the first quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after purchasing an additional 108,152 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in STMicroelectronics by 5.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after buying an additional 120,399 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in STMicroelectronics in the first quarter worth approximately $554,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

Shares of STM opened at $29.50 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of 7.56, a P/E/G ratio of 3.84 and a beta of 1.58. The business’s 50-day moving average is $34.84 and its 200-day moving average is $40.02. STMicroelectronics has a fifty-two week low of $28.19 and a fifty-two week high of $51.27.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company’s revenue for the quarter was down 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 EPS. Equities research analysts expect that STMicroelectronics will post 1.66 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.22%. STMicroelectronics’s dividend payout ratio is 7.95%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com raised STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group upgraded STMicroelectronics from a “sell” rating to a “neutral” rating and increased their price target for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. Morgan Stanley downgraded STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Sanford C. Bernstein decreased their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Finally, Craig Hallum cut their price target on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.13.

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.