Wells Fargo & Company MN raised its stake in STMicroelectronics NV (NYSE:STM) by 20.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,981 shares of the semiconductor producer’s stock after acquiring an additional 56,994 shares during the period. Wells Fargo & Company MN’s holdings in STMicroelectronics were worth $6,447,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of STMicroelectronics by 5.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 9,105 shares of the semiconductor producer’s stock valued at $127,000 after purchasing an additional 433 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of STMicroelectronics by 22.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,573 shares of the semiconductor producer’s stock valued at $138,000 after purchasing an additional 1,765 shares during the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of STMicroelectronics by 225.2% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 8,000 shares of the semiconductor producer’s stock valued at $155,000 after purchasing an additional 5,540 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of STMicroelectronics in the 2nd quarter valued at $156,000. Finally, Stevens Capital Management LP bought a new position in shares of STMicroelectronics in the 2nd quarter valued at $163,000. 5.09% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on STM shares. Craig Hallum lifted their price target on STMicroelectronics from $21.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. ValuEngine lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research upgraded STMicroelectronics from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. STMicroelectronics has a consensus rating of “Buy” and a consensus target price of $21.88.
STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, October 26th. The semiconductor producer reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business 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 quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. analysts forecast that STMicroelectronics NV will post 0.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Tuesday, December 19th were given a dividend of $0.06 per share. The ex-dividend date was Monday, December 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.10%. STMicroelectronics’s dividend payout ratio is currently 30.30%.
STMicroelectronics Company Profile
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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