STMicroelectronics (NYSE:STM) Stake Lessened by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its holdings in shares of STMicroelectronics (NYSE:STM) by 23.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,238 shares of the semiconductor producer’s stock after selling 3,099 shares during the quarter. Park Avenue Securities LLC’s holdings in STMicroelectronics were worth $304,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC grew its stake in STMicroelectronics by 374.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock valued at $1,644,000 after acquiring an additional 29,999 shares in the last quarter. Jane Street Group LLC lifted its position in STMicroelectronics by 153.8% in the 1st quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock worth $7,718,000 after buying an additional 108,152 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of STMicroelectronics during the 1st quarter valued at $554,000. Quadrature Capital Ltd grew its holdings in shares of STMicroelectronics by 337.8% during the 4th quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock valued at $25,561,000 after acquiring an additional 394,147 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of STMicroelectronics by 1,564,831.9% in 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 during the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

STMicroelectronics Price Performance

STM stock opened at $27.94 on Monday. The stock has a market capitalization of $25.24 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 3.43 and a beta of 1.57. The company has a 50-day moving average of $29.38 and a two-hundred day moving average of $36.83. 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 current ratio of 3.35 and a quick ratio of 2.56.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The firm’s revenue for the quarter was down 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 EPS. As a group, equities research analysts anticipate that STMicroelectronics will post 1.63 EPS for the current year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s payout ratio is currently 9.63%.

Analyst Upgrades and Downgrades

STM has been the topic of a number of recent research reports. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research note on Thursday. Craig Hallum cut 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 lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. Finally, Sanford C. Bernstein lowered their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.