119,806 Shares in STMicroelectronics (NYSE:STM) Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of STMicroelectronics (NYSE:STM) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 119,806 shares of the semiconductor producer’s stock, valued at approximately $6,006,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Alamar Capital Management LLC grew its stake in shares of STMicroelectronics by 3.4% in the fourth quarter. Alamar Capital Management LLC now owns 73,966 shares of the semiconductor producer’s stock worth $3,708,000 after purchasing an additional 2,409 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of STMicroelectronics by 37.8% in the fourth quarter. Fisher Asset Management LLC now owns 9,131 shares of the semiconductor producer’s stock valued at $458,000 after buying an additional 2,505 shares during the period. Creekmur Asset Management LLC acquired a new stake in shares of STMicroelectronics in the fourth quarter valued at $361,000. Goldman Sachs Group Inc. lifted its holdings in shares of STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after buying an additional 120,399 shares during the period. Finally, Clear Street Markets LLC acquired a new stake in shares of STMicroelectronics in the fourth quarter valued at $1,437,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Up 1.5 %

NYSE:STM opened at $43.08 on Tuesday. The firm has a market capitalization of $38.89 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 3.99 and a beta of 1.62. STMicroelectronics has a 1-year low of $37.21 and a 1-year high of $55.85. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17. The business’s fifty day moving average price is $41.62 and its 200 day moving average price is $44.42.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.05). STMicroelectronics had a return on equity of 22.95% and a net margin of 22.30%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, sell-side analysts forecast that STMicroelectronics will post 2.13 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be given a $0.09 dividend. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 annualized dividend and a yield of 0.84%. The ex-dividend date is Tuesday, June 25th. STMicroelectronics’s dividend payout ratio is presently 5.13%.

Analysts Set New Price Targets

Several brokerages have recently commented on STM. StockNews.com raised STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. William Blair reaffirmed a “market perform” rating on shares of STMicroelectronics in a report on Friday, April 26th. Susquehanna reaffirmed a “positive” rating and set a $55.00 target price on shares of STMicroelectronics in a report on Monday, April 8th. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and upped their target price for the company from $35.50 to $45.80 in a report on Tuesday. Finally, HSBC assumed coverage on STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, STMicroelectronics presently has a consensus rating of “Moderate Buy” and an average target price of $49.76.

STMicroelectronics Profile

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.