Zions Bancorporation N.A. trimmed its holdings in shares of STMicroelectronics (NYSE:STM – Free Report) 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 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.
Check Out Our Latest Analysis on STM
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.
Featured Stories
- Five stocks we like better than STMicroelectronics
- Golden Cross Stocks: Pattern, Examples and Charts
- Can Celsius Stock Rebound? Analysts See 74% Upside Potential
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Kroger Stock is a Win-Win for Buy-and-Hold Investors
- Options Trading – Understanding Strike Price
- MarketBeat Week in Review – 9/9 – 9/13
Want to see what other hedge funds are holding STM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STMicroelectronics (NYSE:STM – Free Report).
Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.