Vise Technologies Inc. Purchases New Stake in STMicroelectronics (NYSE:STM)

Vise Technologies Inc. purchased a new stake in shares of STMicroelectronics (NYSE:STMGet Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,201 shares of the semiconductor producer’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also made changes to their positions in STM. EverSource Wealth Advisors LLC raised its position in shares of STMicroelectronics by 84.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 681 shares of the semiconductor producer’s stock valued at $30,000 after acquiring an additional 312 shares in the last quarter. MCF Advisors LLC acquired a new stake in STMicroelectronics in the first quarter worth $39,000. Nvwm LLC acquired a new stake in STMicroelectronics in the first quarter worth $43,000. Allworth Financial LP increased its position in STMicroelectronics by 3,021.6% in the first quarter. Allworth Financial LP now owns 1,155 shares of the semiconductor producer’s stock worth $50,000 after buying an additional 1,118 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in STMicroelectronics by 49.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,789 shares of the semiconductor producer’s stock worth $77,000 after buying an additional 589 shares during the period. 4.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STM. Cowen increased their target price on STMicroelectronics from $44.00 to $50.00 in a research report on Friday, July 29th. Citigroup increased their target price on STMicroelectronics from €44.00 ($44.90) to €52.00 ($53.06) and gave the stock a “buy” rating in a research report on Monday, August 1st. Finally, Cowen increased their price target on STMicroelectronics from $44.00 to $50.00 in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.13.

STMicroelectronics Trading Up 0.3 %

NYSE:STM opened at $35.84 on Friday. The business has a fifty day moving average of $35.86 and a 200-day moving average of $37.14. STMicroelectronics has a 1 year low of $28.35 and a 1 year high of $52.15. The stock has a market cap of $32.55 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.66 and a current ratio of 2.28.

STMicroelectronics (NYSE:STMGet Rating) last announced its earnings results on Thursday, July 28th. The semiconductor producer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.11. STMicroelectronics had a return on equity of 29.96% and a net margin of 20.08%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 28.2% on a year-over-year basis. Equities analysts predict that STMicroelectronics will post 3.88 earnings per share for the current year.

STMicroelectronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 27th. Investors of record on Tuesday, September 20th will be paid a dividend of $0.051 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $0.20 annualized dividend and a yield of 0.57%. STMicroelectronics’s dividend payout ratio is currently 6.58%.

STMicroelectronics Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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