9,060 Shares in STMicroelectronics (NYSE:STM) Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new stake in STMicroelectronics (NYSE:STM) during the 2nd quarter, HoldingsChannel reports. The firm bought 9,060 shares of the semiconductor producer’s stock, valued at approximately $356,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Mather Group LLC. acquired a new stake in STMicroelectronics in the 1st quarter worth about $28,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of STMicroelectronics by 144.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after acquiring an additional 734 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of STMicroelectronics during the second quarter worth approximately $51,000. Denver PWM LLC acquired a new position in STMicroelectronics in the 2nd quarter valued at $72,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in STMicroelectronics in the 1st quarter valued at $113,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

STM stock opened at $28.46 on Wednesday. STMicroelectronics has a 52-week low of $27.44 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 stock has a market cap of $25.71 billion, a price-to-earnings ratio of 7.30, a price-to-earnings-growth ratio of 3.36 and a beta of 1.58. The business has a fifty day moving average of $31.40 and a two-hundred day moving average of $38.33.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (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 firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the company earned $1.06 EPS. The company’s quarterly revenue was down 25.3% on a year-over-year basis. As a group, research analysts anticipate that STMicroelectronics will post 1.66 earnings per share for the current year.

STMicroelectronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.26%. STMicroelectronics’s dividend payout ratio is currently 7.95%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STM. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and upped their price objective for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. Morgan Stanley lowered shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Sanford C. Bernstein dropped their price target on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, 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. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, STMicroelectronics has a consensus rating of “Moderate Buy” and an average price target 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.