Sei Investments Co. reduced its holdings in shares of STMicroelectronics N.V. (NYSE:STM) by 67.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,739 shares of the semiconductor producer’s stock after selling 170,207 shares during the quarter. Sei Investments Co.’s holdings in STMicroelectronics were worth $1,587,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of STMicroelectronics by 17.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,651 shares of the semiconductor producer’s stock valued at $111,224,000 after buying an additional 1,151,164 shares during the last quarter. Sensato Investors LLC increased its holdings in shares of STMicroelectronics by 17.2% during the second quarter. Sensato Investors LLC now owns 1,941,246 shares of the semiconductor producer’s stock valued at $27,915,000 after purchasing an additional 285,200 shares during the period. Quentec Asset Management LLC increased its holdings in shares of STMicroelectronics by 121.7% during the second quarter. Quentec Asset Management LLC now owns 1,835,373 shares of the semiconductor producer’s stock valued at $26,393,000 after purchasing an additional 1,007,467 shares during the period. FMR LLC increased its holdings in shares of STMicroelectronics by 2.4% during the second quarter. FMR LLC now owns 1,452,766 shares of the semiconductor producer’s stock valued at $20,890,000 after purchasing an additional 34,106 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of STMicroelectronics by 1,004.2% during the second quarter. JPMorgan Chase & Co. now owns 1,301,673 shares of the semiconductor producer’s stock valued at $18,718,000 after purchasing an additional 1,183,788 shares during the period. Institutional investors own 5.06% of the company’s stock.
STM has been the topic of a number of research analyst reports. Craig Hallum raised their price target on STMicroelectronics from $21.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, October 26th. ValuEngine lowered STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Zacks Investment Research lowered STMicroelectronics from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. STMicroelectronics currently has an average rating of “Buy” and a consensus target price of $21.88.
STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 26th. The semiconductor producer reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.10 billion. STMicroelectronics had a return on equity of 13.47% and a net margin of 7.84%. STMicroelectronics’s revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. equities analysts anticipate that STMicroelectronics N.V. will post 0.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Tuesday, December 19th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, December 18th. STMicroelectronics’s payout ratio is currently 29.41%.
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STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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