8,937 Shares in STMicroelectronics (NYSE:STM) Bought by Arjuna Capital

Arjuna Capital bought a new position in STMicroelectronics (NYSE:STM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,937 shares of the semiconductor producer’s stock, valued at approximately $266,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Waldron Private Wealth LLC purchased a new position in shares of STMicroelectronics during the third quarter valued at $34,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of STMicroelectronics by 144.2% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after buying an additional 734 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of STMicroelectronics during the second quarter valued at $51,000. Tompkins Financial Corp purchased a new position in shares of STMicroelectronics during the third quarter valued at $59,000. Finally, Covestor Ltd purchased a new position in shares of STMicroelectronics during the third quarter valued at $62,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Down 4.7 %

Shares of NYSE:STM traded down $1.27 on Wednesday, reaching $25.88. The company had a trading volume of 1,028,659 shares, compared to its average volume of 3,977,200. STMicroelectronics has a twelve month low of $25.81 and a twelve month high of $51.27. The stock has a 50-day moving average price of $28.04 and a 200 day moving average price of $34.64. The stock has a market capitalization of $23.38 billion, a P/E ratio of 11.17, a P/E/G ratio of 3.27 and a beta of 1.57. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results 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. 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 analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The business’s quarterly revenue was down 26.6% compared to the same quarter last year. On average, equities analysts expect that STMicroelectronics will post 1.64 EPS for the current year.

STMicroelectronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.39%. STMicroelectronics’s dividend payout ratio is presently 12.76%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STM. Susquehanna lowered their price target on STMicroelectronics from $35.00 to $33.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Morgan Stanley downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. Sanford C. Bernstein lowered their target price on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. TD Cowen lowered their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.63.

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.