55,157 Shares in STMicroelectronics (NYSE:STM) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in STMicroelectronics (NYSE:STM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 55,157 shares of the semiconductor producer’s stock, valued at approximately $2,280,000.

A number of other hedge funds have also recently bought and sold shares of STM. Goldman Sachs Group Inc. grew its stake in STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after purchasing an additional 120,399 shares in the last quarter. Analog Century Management LP grew its stake in STMicroelectronics by 18.4% in the fourth quarter. Analog Century Management LP now owns 511,565 shares of the semiconductor producer’s stock valued at $25,645,000 after purchasing an additional 79,658 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in STMicroelectronics by 53.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 286,301 shares of the semiconductor producer’s stock valued at $14,352,000 after purchasing an additional 99,589 shares in the last quarter. True Wealth Design LLC grew its stake in STMicroelectronics by 125,992.9% in the fourth quarter. True Wealth Design LLC now owns 17,653 shares of the semiconductor producer’s stock valued at $885,000 after purchasing an additional 17,639 shares in the last quarter. Finally, Clear Street Markets LLC bought a new position in STMicroelectronics in the fourth quarter valued at approximately $1,437,000. 5.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STM has been the subject of a number of recent analyst reports. Sanford C. Bernstein cut their price objective on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and raised their price objective for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. Craig Hallum cut their price objective on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, TD Cowen cut their price objective on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.13.

STMicroelectronics Stock Performance

NYSE:STM opened at $28.18 on Tuesday. The stock has a market cap of $25.46 billion, a P/E ratio of 7.23, a PEG ratio of 3.52 and a beta of 1.57. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $29.69 and a 200 day simple moving average of $37.27. STMicroelectronics has a 1-year low of $27.44 and a 1-year high of $51.27.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the firm earned $1.06 EPS. The company’s quarterly revenue was down 25.3% compared to the same quarter last year. Research analysts anticipate that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.28%. STMicroelectronics’s dividend payout ratio is currently 7.69%.

STMicroelectronics Company Profile

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.