Quantinno Capital Management LP Trims Position in STMicroelectronics (NYSE:STM)

Quantinno Capital Management LP lowered its stake in shares of STMicroelectronics (NYSE:STM) by 36.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,852 shares of the semiconductor producer’s stock after selling 10,446 shares during the period. Quantinno Capital Management LP’s holdings in STMicroelectronics were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in STM. Truvestments Capital LLC purchased a new position in STMicroelectronics during the 3rd quarter worth $25,000. Archer Investment Corp purchased a new position in STMicroelectronics during the third quarter worth about $30,000. Waldron Private Wealth LLC acquired a new stake in STMicroelectronics in the third quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in STMicroelectronics by 144.2% in 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 in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in STMicroelectronics during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on STM shares. Susquehanna restated a “positive” rating and issued a $33.00 price target on shares of STMicroelectronics in a research note on Thursday, November 21st. Craig Hallum decreased their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Finally, StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and an average target price of $36.26.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $26.29 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. The business’s fifty day moving average price is $26.65 and its two-hundred day moving average price is $32.21. The stock has a market cap of $23.75 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 3.19 and a beta of 1.53. STMicroelectronics has a one year low of $23.95 and a one year high of $51.27.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was down 26.6% compared to the same quarter last year. On average, analysts forecast that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio is presently 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.