STMicroelectronics (NYSE:STM) Short Interest Update

STMicroelectronics (NYSE:STMGet Rating) was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 3,710,000 shares, an increase of 25.8% from the June 15th total of 2,950,000 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 4,030,000 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On STMicroelectronics

A number of institutional investors and hedge funds have recently modified their holdings of STM. Van ECK Associates Corp increased its holdings in STMicroelectronics by 33.0% in the 1st quarter. Van ECK Associates Corp now owns 4,824,022 shares of the semiconductor producer’s stock worth $208,494,000 after buying an additional 1,197,001 shares during the period. BlackRock Inc. boosted its holdings in STMicroelectronics by 9.9% in the first quarter. BlackRock Inc. now owns 3,530,155 shares of the semiconductor producer’s stock valued at $152,573,000 after purchasing an additional 318,347 shares during the last quarter. Capital International Investors grew its holdings in STMicroelectronics by 3.0% during the first quarter. Capital International Investors now owns 2,857,566 shares of the semiconductor producer’s stock worth $128,133,000 after acquiring an additional 83,859 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of STMicroelectronics by 120.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,733,455 shares of the semiconductor producer’s stock worth $133,612,000 after purchasing an additional 1,492,053 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in STMicroelectronics by 393.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,530,679 shares of the semiconductor producer’s stock valued at $75,787,000 after buying an additional 1,220,355 shares in the last quarter. Institutional investors and hedge funds own 11.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STM shares. Barclays cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Tuesday, April 12th. Cowen dropped their target price on STMicroelectronics from $66.00 to $60.00 in a research report on Thursday, April 28th. UBS Group reduced their price target on STMicroelectronics from €44.00 ($44.44) to €38.00 ($38.38) and set a “neutral” rating for the company in a research report on Thursday, April 28th. StockNews.com assumed coverage on STMicroelectronics in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Finally, Craig Hallum cut their target price on STMicroelectronics from $65.00 to $55.00 in a research note on Wednesday, April 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.00.

STMicroelectronics Trading Up 1.6 %

STMicroelectronics stock opened at $35.22 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.90 and a current ratio of 2.60. The stock has a market cap of $31.99 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 2.06 and a beta of 1.52. The stock has a 50-day moving average of $35.34 and a two-hundred day moving average of $39.76. STMicroelectronics has a one year low of $28.35 and a one year high of $52.15.

STMicroelectronics (NYSE:STMGet Rating) last released its earnings results on Wednesday, April 27th. The semiconductor producer reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. STMicroelectronics had a net margin of 17.93% and a return on equity of 26.20%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period last year, the business earned $0.39 EPS. STMicroelectronics’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, research analysts anticipate that STMicroelectronics will post 3.33 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 28th. Shareholders of record on Tuesday, June 21st were given a dividend of $0.051 per share. The ex-dividend date of this dividend was Friday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.58%. STMicroelectronics’s dividend payout ratio is currently 7.81%.

About STMicroelectronics

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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.

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