Caprock Group LLC Sells 1,349 Shares of STMicroelectronics (NYSE:STM)

Caprock Group LLC decreased its position in shares of STMicroelectronics (NYSE:STM) by 15.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,432 shares of the semiconductor producer’s stock after selling 1,349 shares during the period. Caprock Group LLC’s holdings in STMicroelectronics were worth $293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in STMicroelectronics by 16.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock worth $38,572,000 after acquiring an additional 109,477 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of STMicroelectronics by 374.5% during the first quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock valued at $1,644,000 after buying an additional 29,999 shares during the last quarter. Jane Street Group LLC raised its position in shares of STMicroelectronics by 153.8% during the first quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after buying an additional 108,152 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of STMicroelectronics by 5.4% during 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of STMicroelectronics during the first quarter valued at approximately $554,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Up 2.3 %

STM stock opened at $28.58 on Friday. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. STMicroelectronics has a twelve month low of $27.44 and a twelve month high of $51.27. The stock has a market capitalization of $25.82 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 3.41 and a beta of 1.58. The firm’s fifty day simple moving average is $33.37 and its two-hundred day simple moving average is $39.33.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the business posted $1.06 earnings per share. The business’s revenue was down 25.3% compared to the same quarter last year. As a group, analysts anticipate that STMicroelectronics will post 1.66 earnings per share for the current year.

STMicroelectronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 1.26%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is 7.95%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STM. Craig Hallum reduced their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. TD Cowen reduced their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Sanford C. Bernstein reduced their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $35.50 to $45.80 in a research report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, STMicroelectronics has a consensus rating of “Moderate Buy” and a consensus price target of $43.13.

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.