Assetmark Inc. Grows Stock Holdings in STMicroelectronics (NYSE:STM)

Assetmark Inc. increased its stake in STMicroelectronics (NYSE:STM) by 14.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,748 shares of the semiconductor producer’s stock after buying an additional 6,709 shares during the quarter. Assetmark Inc.’s holdings in STMicroelectronics were worth $1,568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STM. Waldron Private Wealth LLC bought a new stake in STMicroelectronics in the third quarter worth $34,000. Whittier Trust Co. of Nevada Inc. grew its position in STMicroelectronics by 144.2% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after purchasing an additional 734 shares during the last quarter. Ridgewood Investments LLC bought a new stake in STMicroelectronics during the 2nd quarter valued at about $51,000. Denver PWM LLC purchased a new position in STMicroelectronics in the second quarter worth about $72,000. Finally, Cromwell Holdings LLC raised its holdings in STMicroelectronics by 68.1% in the third quarter. Cromwell Holdings LLC now owns 2,559 shares of the semiconductor producer’s stock worth $76,000 after buying an additional 1,037 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Morgan Stanley lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Susquehanna lowered their price target on STMicroelectronics from $35.00 to $33.00 and set a “positive” rating on the stock in a report on Friday, November 1st. Sanford C. Bernstein reduced 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, TD Cowen decreased their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.63.

STMicroelectronics Trading Up 0.9 %

Shares of NYSE:STM opened at $26.11 on Friday. The stock’s 50-day simple moving average is $27.89 and its two-hundred day simple moving average is $34.52. The stock has a market capitalization of $23.59 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 3.30 and a beta of 1.57. STMicroelectronics has a 52-week low of $25.69 and a 52-week high of $51.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data 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. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The firm’s revenue was down 26.6% compared to the same quarter last year. Analysts expect that STMicroelectronics will post 1.64 EPS 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 paid 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 1.38%. STMicroelectronics’s dividend payout ratio (DPR) is 12.76%.

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.