Dorsey & Whitney Trust CO LLC Buys 3,814 Shares of STMicroelectronics (NYSE:STM)

Dorsey & Whitney Trust CO LLC lifted its stake in STMicroelectronics (NYSE:STM) by 46.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,016 shares of the semiconductor producer’s stock after acquiring an additional 3,814 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in STMicroelectronics were worth $472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Choreo LLC bought a new position in shares of STMicroelectronics in the second quarter valued at approximately $1,029,000. First Foundation Advisors acquired a new position in STMicroelectronics during the 2nd quarter worth $321,000. Gallacher Capital Management LLC boosted its holdings in STMicroelectronics by 4.6% during the second quarter. Gallacher Capital Management LLC now owns 9,783 shares of the semiconductor producer’s stock valued at $384,000 after acquiring an additional 427 shares during the period. Denver PWM LLC acquired a new stake in shares of STMicroelectronics in the second quarter valued at about $72,000. Finally, Naviter Wealth LLC increased its stake in shares of STMicroelectronics by 37.7% in the second quarter. Naviter Wealth LLC now owns 11,112 shares of the semiconductor producer’s stock worth $437,000 after purchasing an additional 3,045 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and increased their price objective for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. Morgan Stanley lowered shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Tuesday. Craig Hallum decreased their target price on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, TD Cowen cut their price target on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and a consensus price target of $43.13.

STMicroelectronics Stock Up 1.1 %

Shares of STM opened at $28.33 on Thursday. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $33.91 and a two-hundred day moving average price of $39.53. The stock has a market cap of $25.59 billion, a price-to-earnings ratio of 7.26, a P/E/G ratio of 3.41 and a beta of 1.58. STMicroelectronics has a 12 month low of $27.44 and a 12 month high of $51.27.

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

STMicroelectronics Announces Dividend

The company also recently announced 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is currently 7.95%.

STMicroelectronics Company 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.