Newbridge Financial Services Group Inc. Invests $31,000 in STMicroelectronics (NYSE:STM)

Newbridge Financial Services Group Inc. purchased a new position in shares of STMicroelectronics (NYSE:STM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,225 shares of the semiconductor producer’s stock, valued at approximately $31,000.

A number of other hedge funds also recently modified their holdings of STM. Truvestments Capital LLC acquired a new stake in STMicroelectronics in the 3rd quarter valued at approximately $25,000. Archer Investment Corp acquired a new stake in STMicroelectronics in the 3rd quarter valued at approximately $30,000. Waldron Private Wealth LLC acquired a new stake in STMicroelectronics in the 3rd quarter valued at approximately $34,000. GAMMA Investing LLC raised its position in STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after buying an additional 531 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in STMicroelectronics by 108.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock valued at $46,000 after buying an additional 809 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Ratings Changes

STM has been the topic of a number of recent research reports. Barclays lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Craig Hallum dropped their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. Sanford C. Bernstein downgraded STMicroelectronics from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $33.00 to $26.00 in a research note on Wednesday, February 5th. Finally, Robert W. Baird decreased their price target on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.26.

STMicroelectronics Stock Performance

Shares of NYSE STM opened at $22.91 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 12 month low of $21.36 and a 12 month high of $49.05. The stock has a 50 day moving average of $24.84 and a 200-day moving average of $27.15. The company has a market capitalization of $20.69 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.97 and a beta of 1.51.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. As a group, equities research analysts predict that STMicroelectronics will post 0.82 EPS for the current year.

STMicroelectronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 annualized dividend and a dividend yield of 1.57%. STMicroelectronics’s dividend payout ratio is currently 18.67%.

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.