STMicroelectronics (NYSE:STM) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. boosted its position in STMicroelectronics (NYSE:STM) by 65.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,668 shares of the semiconductor producer’s stock after acquiring an additional 3,814 shares during the quarter. Blue Trust Inc.’s holdings in STMicroelectronics were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 worth $49,000 after purchasing an additional 734 shares in the last quarter. Ridgewood Investments LLC bought a new stake in STMicroelectronics in the second quarter valued at about $51,000. Denver PWM LLC bought a new stake in STMicroelectronics in the second quarter valued at about $72,000. Allspring Global Investments Holdings LLC bought a new stake in STMicroelectronics in the first quarter valued at about $113,000. Finally, Fairscale Capital LLC bought a new stake in STMicroelectronics in the second quarter valued at about $209,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Trading Up 0.9 %

STMicroelectronics stock opened at $28.15 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 company has a market capitalization of $25.43 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 3.40 and a beta of 1.57. STMicroelectronics has a one year low of $26.63 and a one year high of $51.27. The company’s fifty day moving average price is $29.06 and its two-hundred day moving average price is $35.98.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $3.23 billion for 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 company’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 EPS. On average, analysts forecast that STMicroelectronics will post 1.63 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is currently 9.63%.

Analyst Ratings Changes

Several analysts recently weighed in on STM shares. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Susquehanna decreased their price objective on STMicroelectronics from $45.00 to $35.00 and set a “positive” rating for the company in a report on Monday. Morgan Stanley downgraded STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Sanford C. Bernstein cut their target price 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 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. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

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.