Creative Planning Boosts Holdings in STMicroelectronics (NYSE:STM)

Creative Planning grew its holdings in shares of STMicroelectronics (NYSE:STM) by 10.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 66,113 shares of the semiconductor producer’s stock after acquiring an additional 6,509 shares during the quarter. Creative Planning’s holdings in STMicroelectronics were worth $1,966,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in STM. Dimensional Fund Advisors LP raised its stake in shares of 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 acquiring an additional 1,478,213 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of STMicroelectronics by 1,564,831.9% during the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after acquiring an additional 1,079,734 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of 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 acquiring an additional 675,353 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of STMicroelectronics by 128.1% in the second quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock worth $25,469,000 after purchasing an additional 364,184 shares during the last quarter. Finally, Delta Global Management LP grew its holdings in shares of STMicroelectronics by 31.3% in the first quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer’s stock worth $45,300,000 after purchasing an additional 249,905 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on STM shares. Morgan Stanley cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Susquehanna cut their target price 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. Sanford C. Bernstein cut 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. Finally, Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

STMicroelectronics Stock Performance

NYSE:STM opened at $28.55 on Tuesday. The stock has a market cap of $25.79 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 3.47 and a beta of 1.57. The firm’s fifty day simple moving average is $28.95 and its 200 day simple moving average is $35.69. STMicroelectronics has a twelve month low of $26.63 and a twelve month 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.

STMicroelectronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is presently 9.63%.

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.