Modera Wealth Management LLC Trims Stake in STMicroelectronics (NYSE:STM)

Modera Wealth Management LLC cut its stake in shares of STMicroelectronics (NYSE:STM) by 15.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,740 shares of the semiconductor producer’s stock after selling 29,808 shares during the period. Modera Wealth Management LLC’s holdings in STMicroelectronics were worth $4,927,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of STM. Van ECK Associates Corp lifted its position in shares of STMicroelectronics by 11.6% during the 2nd quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer’s stock valued at $254,388,000 after buying an additional 675,353 shares in the last quarter. Capital International Investors boosted its position in shares of STMicroelectronics by 2.4% in 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 period. Dimensional Fund Advisors LP raised its position in shares of STMicroelectronics by 177.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after purchasing an additional 1,478,213 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of STMicroelectronics by 0.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock valued at $61,443,000 after purchasing an additional 7,732 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in STMicroelectronics by 1,564,831.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after buying an additional 1,079,734 shares during the period. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Performance

Shares of NYSE:STM opened at $28.22 on Monday. The stock has a market capitalization of $25.49 billion, a P/E ratio of 7.24, a PEG ratio of 3.40 and a beta of 1.57. STMicroelectronics has a 52 week low of $26.63 and a 52 week high of $51.27. 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 firm has a fifty day simple moving average of $29.01 and a two-hundred day simple moving average of $35.79.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The company’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. On average, analysts expect that STMicroelectronics will post 1.63 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.28%. STMicroelectronics’s dividend payout ratio is presently 7.69%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STM. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Sanford C. Bernstein lowered their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Morgan Stanley cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Finally, Susquehanna reduced their price target on shares of STMicroelectronics from $45.00 to $35.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.80.

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.