9,687 Shares in STMicroelectronics (NYSE:STM) Purchased by Scientech Research LLC

Scientech Research LLC purchased a new stake in shares of STMicroelectronics (NYSE:STM) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,687 shares of the semiconductor producer’s stock, valued at approximately $381,000.

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

STMicroelectronics Price Performance

Shares of NYSE STM opened at $30.36 on Monday. STMicroelectronics has a fifty-two week low of $27.44 and a fifty-two 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. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 3.42 and a beta of 1.58. The company has a 50 day simple moving average of $30.70 and a two-hundred day simple moving average of $37.94.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results 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. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. STMicroelectronics’s revenue was down 25.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS. Analysts expect that STMicroelectronics will post 1.66 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.19%. STMicroelectronics’s dividend payout ratio (DPR) is presently 7.69%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STM. TD Cowen lowered their price objective on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Craig Hallum decreased their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Sanford C. Bernstein dropped their price objective on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Finally, Morgan Stanley lowered STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.13.

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.