Zions Bancorporation N.A. Sells 1,566 Shares of STMicroelectronics (NYSE:STM)

Zions Bancorporation N.A. trimmed its holdings in shares of STMicroelectronics (NYSE:STM) by 15.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,319 shares of the semiconductor producer’s stock after selling 1,566 shares during the period. Zions Bancorporation N.A.’s holdings in STMicroelectronics were worth $327,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in STMicroelectronics by 16.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 769,433 shares of the semiconductor producer’s stock worth $38,572,000 after buying an additional 109,477 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in 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 purchasing an additional 29,999 shares during the period. Jane Street Group LLC increased its stake in STMicroelectronics by 153.8% in the first quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after purchasing an additional 108,152 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after purchasing an additional 120,399 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of STMicroelectronics during the first quarter worth $554,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Trading Up 2.3 %

STMicroelectronics stock opened at $28.59 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. The firm has a 50-day moving average of $33.37 and a 200-day moving average of $39.28. The company has a market cap of $25.83 billion, a price-to-earnings ratio of 7.33, a P/E/G ratio of 3.41 and a beta of 1.58. STMicroelectronics has a one year low of $27.44 and a one year high of $51.27.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results 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 return on equity of 18.18% and a net margin of 19.68%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the company earned $1.06 earnings per share. The business’s revenue was down 25.3% compared to the same quarter last year. On average, equities analysts expect that STMicroelectronics will post 1.66 earnings per share for the current fiscal year.

STMicroelectronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is presently 7.95%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on STM. Morgan Stanley downgraded STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and increased their target price for the stock from $35.50 to $45.80 in a research note on Tuesday, June 18th. Sanford C. Bernstein cut their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Craig Hallum lowered their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.13.

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.