Wilmington Savings Fund Society FSB Takes $186,000 Position in STMicroelectronics (NYSE:STM)

Wilmington Savings Fund Society FSB purchased a new stake in STMicroelectronics (NYSE:STM) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,246 shares of the semiconductor producer’s stock, valued at approximately $186,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STM. Van ECK Associates Corp lifted its stake in shares of STMicroelectronics by 26.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock valued at $228,655,000 after purchasing an additional 1,719,257 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in STMicroelectronics by 177.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after buying an additional 1,478,213 shares during the period. Two Sigma Advisers LP lifted its position in STMicroelectronics by 674.2% in the third quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock worth $41,524,000 after buying an additional 1,216,300 shares during the last quarter. Federated Hermes Inc. boosted its stake in STMicroelectronics by 128.1% during the second quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock worth $25,469,000 after buying an additional 364,184 shares during the period. Finally, Mediolanum International Funds Ltd bought a new position in STMicroelectronics during the third quarter valued at $7,642,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

Shares of STM stock opened at $24.95 on Thursday. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 3.20 and a beta of 1.53. 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 twelve month low of $23.95 and a twelve month high of $50.94. The stock has a fifty day simple moving average of $26.50 and a two-hundred day simple moving average of $31.88.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data 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 company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The firm’s revenue for the quarter was down 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. On average, analysts predict that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.44%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics’s payout ratio is 12.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. BNP Paribas started coverage on shares of STMicroelectronics in a research note on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price objective for the company. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. Finally, StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.26.

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.