Wealth Alliance Invests $269,000 in STMicroelectronics (NYSE:STM)

Wealth Alliance bought a new position in shares of STMicroelectronics (NYSE:STM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 6,846 shares of the semiconductor producer’s stock, valued at approximately $269,000.

Other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of STMicroelectronics by 55.3% during the first quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock worth $250,831,000 after buying an additional 2,065,387 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 in the last quarter. Lazard Asset Management LLC raised its position 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 valued at $46,690,000 after purchasing an additional 1,079,734 shares during the last quarter. Quadrature Capital Ltd boosted its stake in STMicroelectronics by 337.8% in the fourth quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock worth $25,561,000 after purchasing an additional 394,147 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of STMicroelectronics by 128.1% during 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. Institutional investors and hedge funds own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group upgraded shares of STMicroelectronics from a “sell” rating to a “neutral” rating and upped their target price for the stock from $35.50 to $45.80 in a research report on Tuesday, June 18th. Craig Hallum lowered their price target on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Sanford C. Bernstein dropped their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, Morgan Stanley lowered STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.13.

STMicroelectronics Price Performance

STM opened at $27.94 on Friday. The company has a fifty day moving average price of $32.26 and a two-hundred day moving average price of $38.84. The firm has a market capitalization of $25.24 billion, a PE ratio of 7.16, a P/E/G ratio of 3.35 and a beta of 1.58. STMicroelectronics has a 52 week low of $27.44 and a 52 week high of $51.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping 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 business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the firm 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, analysts anticipate that STMicroelectronics will post 1.66 earnings per share for the current year.

STMicroelectronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.29%. STMicroelectronics’s dividend payout ratio (DPR) is presently 7.69%.

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.