Advisors Asset Management Inc. Sells 4,484 Shares of STMicroelectronics (NYSE:STM)

Advisors Asset Management Inc. decreased its holdings in STMicroelectronics (NYSE:STMGet Rating) by 14.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,364 shares of the semiconductor producer’s stock after selling 4,484 shares during the period. Advisors Asset Management Inc.’s holdings in STMicroelectronics were worth $830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in STMicroelectronics by 84.6% during the first quarter. EverSource Wealth Advisors LLC now owns 681 shares of the semiconductor producer’s stock valued at $30,000 after buying an additional 312 shares during the period. CWM LLC boosted its holdings in STMicroelectronics by 47.6% during the 2nd quarter. CWM LLC now owns 1,193 shares of the semiconductor producer’s stock valued at $38,000 after acquiring an additional 385 shares during the period. MCF Advisors LLC bought a new position in STMicroelectronics during the 1st quarter worth approximately $39,000. Nvwm LLC purchased a new position in STMicroelectronics in the 1st quarter worth approximately $43,000. Finally, Fieldpoint Private Securities LLC increased its stake in STMicroelectronics by 107.6% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,201 shares of the semiconductor producer’s stock worth $69,000 after purchasing an additional 1,141 shares during the period. Institutional investors own 4.84% of the company’s stock.

Wall Street Analysts Forecast Growth

STM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of STMicroelectronics from €48.00 ($49.48) to €45.00 ($46.39) and set a “buy” rating on the stock in a report on Friday, October 28th. Cowen boosted their price objective on shares of STMicroelectronics from $44.00 to $50.00 in a research report on Friday, July 29th. Cowen increased their target price on shares of STMicroelectronics from $44.00 to $50.00 in a report on Friday, July 29th. William Blair started coverage on STMicroelectronics in a report on Monday, October 17th. They set a “market perform” rating on the stock. Finally, StockNews.com began coverage on STMicroelectronics in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.56.

STMicroelectronics Stock Performance

STMicroelectronics stock opened at $38.33 on Friday. STMicroelectronics has a fifty-two week low of $28.35 and a fifty-two week high of $52.15. The stock has a market cap of $34.82 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.89 and a beta of 1.46. The stock’s 50 day simple moving average is $33.73 and its two-hundred day simple moving average is $35.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.81 and a current ratio of 2.43.

STMicroelectronics (NYSE:STMGet Rating) last released its quarterly earnings results on Thursday, October 27th. The semiconductor producer reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.12. The company had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.19 billion. STMicroelectronics had a return on equity of 34.37% and a net margin of 22.69%. The firm’s revenue was up 35.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, analysts expect that STMicroelectronics will post 4 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Tuesday, December 13th will be given a $0.06 dividend. The ex-dividend date is Monday, December 12th. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.63%. STMicroelectronics’s dividend payout ratio is currently 5.42%.

STMicroelectronics Company Profile

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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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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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