First Trust Direct Indexing L.P. Trims Holdings in STMicroelectronics (NYSE:STM)

First Trust Direct Indexing L.P. decreased its stake in shares of STMicroelectronics (NYSE:STM) by 22.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,853 shares of the semiconductor producer’s stock after selling 3,940 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in STMicroelectronics were worth $412,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its position in STMicroelectronics by 374.5% during the first quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock worth $1,644,000 after buying an additional 29,999 shares in the last quarter. Washington Capital Management Inc. acquired a new stake in STMicroelectronics during the third quarter worth $1,112,000. Jane Street Group LLC increased its stake in STMicroelectronics by 153.8% during the first quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock worth $7,718,000 after acquiring an additional 108,152 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in STMicroelectronics during the first quarter worth $554,000. Finally, Lazard Asset Management LLC increased its stake in STMicroelectronics by 1,564,831.9% during 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. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on STM shares. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Robert W. Baird dropped their price objective on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday. Craig Hallum dropped their price objective on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday. Susquehanna dropped their price objective on STMicroelectronics from $35.00 to $33.00 and set a “positive” rating for the company in a research note on Friday. Finally, StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.63.

STMicroelectronics Trading Down 1.7 %

NYSE:STM opened at $26.67 on Monday. The firm has a market cap of $24.09 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 3.36 and a beta of 1.58. The stock has a fifty day moving average price of $28.67 and a 200 day moving average price of $35.35. STMicroelectronics has a 12-month low of $26.44 and a 12-month high of $51.27. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a return on equity of 13.44% and a net margin of 16.11%. STMicroelectronics’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. Sell-side analysts anticipate that STMicroelectronics will post 1.62 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 issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is 12.35%.

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.