Covestor Ltd Acquires Shares of 2,083 STMicroelectronics (NYSE:STM)

Covestor Ltd bought a new position in STMicroelectronics (NYSE:STM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,083 shares of the semiconductor producer’s stock, valued at approximately $62,000.

Several other institutional investors also recently bought and sold shares of the stock. Waldron Private Wealth LLC acquired a new stake in shares of STMicroelectronics during the 3rd quarter worth approximately $34,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of 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 worth $49,000 after acquiring an additional 734 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of STMicroelectronics in the 2nd quarter valued at about $51,000. Tompkins Financial Corp acquired a new position in STMicroelectronics in the 3rd quarter worth about $59,000. Finally, Denver PWM LLC acquired a new stake in STMicroelectronics in the second quarter valued at approximately $72,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Stock Performance

NYSE:STM opened at $26.11 on Friday. The firm’s fifty day simple moving average is $27.89 and its 200 day simple moving average is $34.52. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. STMicroelectronics has a twelve month low of $25.69 and a twelve month high of $51.27. The firm 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 (NYSE:STM) last issued its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, topping the consensus estimate of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period last year, the business earned $1.16 earnings per share. STMicroelectronics’s quarterly revenue was down 26.6% compared to the same quarter last year. As a group, equities research analysts expect that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.38%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is presently 12.76%.

Analyst Ratings Changes

A number of research firms recently issued reports on STM. Sanford C. Bernstein dropped their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Robert W. Baird reduced their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Morgan Stanley lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. TD Cowen reduced their price objective on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Finally, Susquehanna decreased their price target on shares of STMicroelectronics from $35.00 to $33.00 and set a “positive” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, STMicroelectronics presently has an average rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics 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.