STMicroelectronics (NYSE:STM) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of STMicroelectronics (NYSE:STM) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,849,100 shares of the semiconductor producer’s stock after selling 346,421 shares during the period. Van ECK Associates Corp’s holdings in STMicroelectronics were worth $195,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aigen Investment Management LP acquired a new position in STMicroelectronics in the third quarter worth about $1,157,000. Clear Creek Financial Management LLC bought a new stake in shares of STMicroelectronics in the 4th quarter valued at approximately $468,000. Point72 Asset Management L.P. bought a new stake in shares of STMicroelectronics in the 3rd quarter valued at approximately $1,924,000. Diversified Trust Co acquired a new stake in shares of STMicroelectronics during the 4th quarter valued at approximately $583,000. Finally, J2 Capital Management Inc bought a new position in STMicroelectronics during the fourth quarter worth $295,000. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

Shares of STM opened at $23.52 on Thursday. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.97 and a beta of 1.51. The stock’s fifty day moving average is $24.79 and its 200-day moving average is $27.12. STMicroelectronics has a one year low of $21.36 and a one year high of $49.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. Equities analysts anticipate that STMicroelectronics will post 0.82 EPS for the current year.

STMicroelectronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s payout ratio is currently 18.67%.

Analyst Ratings Changes

STM has been the topic of a number of research reports. Susquehanna dropped their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a report on Friday, January 31st. TD Cowen lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $32.00 to $25.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. Robert W. Baird cut their price target on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, BNP Paribas started coverage on STMicroelectronics in a research note on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.26.

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.