STMicroelectronics (NYSE:STM) Stake Lessened by Empirical Asset Management LLC

Empirical Asset Management LLC decreased its position in shares of STMicroelectronics (NYSE:STM) by 8.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,670 shares of the semiconductor producer’s stock after selling 1,100 shares during the quarter. Empirical Asset Management LLC’s holdings in STMicroelectronics were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STM. Grandview Asset Management LLC acquired a new position in shares of STMicroelectronics during the 4th quarter valued at $696,000. Diversified Trust Co acquired a new position in STMicroelectronics during the fourth quarter worth about $583,000. GAMMA Investing LLC raised its position in STMicroelectronics by 81.4% in the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after acquiring an additional 531 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of STMicroelectronics during the 3rd quarter valued at about $186,000. Finally, TD Private Client Wealth LLC grew its stake in shares of STMicroelectronics by 108.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after purchasing an additional 809 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STM. TD Cowen lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating and cut their target price for the company from $32.00 to $25.00 in a research note on Monday, January 13th. BNP Paribas started coverage on STMicroelectronics in a report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 target price on the stock. Morgan Stanley downgraded STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Craig Hallum dropped their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Robert W. Baird reduced their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, STMicroelectronics currently has an average rating of “Hold” and a consensus target price of $34.11.

STMicroelectronics Price Performance

Shares of STM opened at $25.43 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. The company has a market capitalization of $22.97 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 4.13 and a beta of 1.52. The business’s 50-day moving average is $25.43 and its 200-day moving average is $29.25. STMicroelectronics has a fifty-two week low of $23.66 and a fifty-two week high of $49.05.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The company’s revenue was down 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities research analysts expect that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a yield of 1.42%. STMicroelectronics’s dividend payout ratio (DPR) is currently 12.76%.

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.