PDS Planning Inc Invests $206,000 in STMicroelectronics (NYSE:STM)

PDS Planning Inc bought a new position in shares of STMicroelectronics (NYSE:STM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,110 shares of the semiconductor producer’s stock, valued at approximately $206,000.

A number of other large investors have also modified their holdings of the business. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of STMicroelectronics by 0.6% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,229,200 shares of the semiconductor producer’s stock worth $96,212,000 after buying an additional 12,476 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of STMicroelectronics by 92.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 643,578 shares of the semiconductor producer’s stock valued at $27,777,000 after acquiring an additional 308,494 shares during the last quarter. FMR LLC boosted its position in shares of STMicroelectronics by 27.9% during the 3rd quarter. FMR LLC now owns 589,282 shares of the semiconductor producer’s stock valued at $25,433,000 after acquiring an additional 128,707 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of STMicroelectronics by 21.1% during the 4th quarter. Federated Hermes Inc. now owns 539,993 shares of the semiconductor producer’s stock valued at $27,070,000 after acquiring an additional 94,131 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of STMicroelectronics by 7.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 468,513 shares of the semiconductor producer’s stock valued at $20,221,000 after acquiring an additional 33,975 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Up 1.9 %

NYSE STM opened at $39.99 on Wednesday. The firm’s 50-day moving average is $43.94 and its two-hundred day moving average is $44.61. STMicroelectronics has a 12 month low of $37.21 and a 12 month high of $55.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.17 and a quick ratio of 2.44. The stock has a market capitalization of $36.10 billion, a P/E ratio of 8.97, a PEG ratio of 2.62 and a beta of 1.69.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.08 billion. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. STMicroelectronics’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share. On average, sell-side analysts anticipate that STMicroelectronics will post 2.99 earnings per share for the current year.

STMicroelectronics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, June 25th. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. STMicroelectronics’s dividend payout ratio is 4.48%.

Analyst Ratings Changes

Several brokerages have recently weighed in on STM. Susquehanna reissued a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. Berenberg Bank raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday. StockNews.com cut shares of STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Craig Hallum lowered their price target on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, HSBC started coverage on shares of STMicroelectronics in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.75.

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.