Evergreen Capital Management LLC Decreases Stake in STMicroelectronics (NYSE:STM)

Evergreen Capital Management LLC cut its holdings in STMicroelectronics (NYSE:STM) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,897 shares of the semiconductor producer’s stock after selling 725 shares during the quarter. Evergreen Capital Management LLC’s holdings in STMicroelectronics were worth $232,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of STM. Van ECK Associates Corp raised its holdings in STMicroelectronics by 11.6% during the second quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer’s stock worth $254,388,000 after purchasing an additional 675,353 shares during the last quarter. Capital International Investors raised its holdings in STMicroelectronics by 2.4% during the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock worth $135,467,000 after purchasing an additional 74,519 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in STMicroelectronics by 5.4% during 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 last quarter. Dimensional Fund Advisors LP raised its holdings in STMicroelectronics by 177.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after purchasing an additional 1,478,213 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in STMicroelectronics by 8.7% during the fourth quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock worth $80,991,000 after purchasing an additional 129,772 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Price Performance

STM stock opened at $30.36 on Friday. The stock has a 50-day moving average price of $30.70 and a two-hundred day moving average price of $38.08. STMicroelectronics has a 12-month low of $27.44 and a 12-month high of $51.27. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The company has a market cap of $27.43 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) 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 quarter in the previous year, the business earned $1.06 earnings per share. The firm’s quarterly revenue was down 25.3% compared to the same quarter last year. As a group, research analysts predict that STMicroelectronics will post 1.66 EPS for the current year.

STMicroelectronics Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s payout ratio is 7.95%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STM. The Goldman Sachs Group raised 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 report on Tuesday, June 18th. Sanford C. Bernstein cut their price target on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. 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. Craig Hallum cut their price target on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.13.

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.