Crossmark Global Holdings Inc. Acquires 22,692 Shares of STMicroelectronics (NYSE:STM)

Crossmark Global Holdings Inc. increased its holdings in shares of STMicroelectronics (NYSE:STM) by 53.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 64,812 shares of the semiconductor producer’s stock after purchasing an additional 22,692 shares during the period. Crossmark Global Holdings Inc.’s holdings in STMicroelectronics were worth $1,927,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of STM. Waldron Private Wealth LLC bought a new position in STMicroelectronics during the third quarter worth about $34,000. Whittier Trust Co. of Nevada Inc. lifted its position in STMicroelectronics by 144.2% during the second 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 during the last quarter. Ridgewood Investments LLC acquired a new stake in STMicroelectronics during the second quarter worth approximately $51,000. Tompkins Financial Corp acquired a new stake in STMicroelectronics during the third quarter worth approximately $59,000. Finally, Covestor Ltd acquired a new stake in STMicroelectronics during the third quarter worth approximately $62,000. Institutional investors own 5.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STM shares. Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Susquehanna cut their price objective on shares of STMicroelectronics from $35.00 to $33.00 and set a “positive” rating for the company in a research report on Friday, November 1st. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Sanford C. Bernstein dropped their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Stock Performance

Shares of NYSE:STM opened at $27.15 on Wednesday. The company’s 50 day simple moving average is $28.04 and its 200 day simple moving average is $34.64. The stock has a market capitalization of $24.53 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 3.22 and a beta of 1.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. STMicroelectronics has a 1 year low of $25.95 and a 1 year high of $51.27.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.27 billion. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The firm’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. As a group, research analysts predict that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

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 paid a $0.09 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.33%. STMicroelectronics’s dividend payout ratio (DPR) is 12.35%.

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.