Russell Investments Group Ltd. Cuts Stock Position in STMicroelectronics (NYSE:STM)

Russell Investments Group Ltd. lessened its holdings in STMicroelectronics (NYSE:STM – Get Rating) by 15.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 82,530 shares of the semiconductor producer’s stock after selling 15,112 shares during the period. Russell Investments Group Ltd.’s holdings in STMicroelectronics were worth $2,949,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. CWM LLC increased its stake in STMicroelectronics by 17.2% in the 4th quarter. CWM LLC now owns 2,090 shares of the semiconductor producer’s stock worth $74,000 after buying an additional 307 shares in the last quarter. Comerica Bank increased its stake in STMicroelectronics by 2.1% in the 4th quarter. Comerica Bank now owns 16,051 shares of the semiconductor producer’s stock worth $670,000 after buying an additional 333 shares in the last quarter. CAPROCK Group Inc. increased its stake in STMicroelectronics by 3.9% in the 3rd quarter. CAPROCK Group Inc. now owns 9,507 shares of the semiconductor producer’s stock worth $294,000 after buying an additional 355 shares in the last quarter. Brinker Capital Investments LLC boosted its holdings in shares of STMicroelectronics by 5.9% during the 3rd quarter. Brinker Capital Investments LLC now owns 7,488 shares of the semiconductor producer’s stock valued at $232,000 after purchasing an additional 419 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC boosted its holdings in shares of STMicroelectronics by 12.2% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 4,218 shares of the semiconductor producer’s stock valued at $150,000 after purchasing an additional 459 shares during the last quarter. Hedge funds and other institutional investors own 6.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on STM. Cowen increased their price objective on shares of STMicroelectronics from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Friday, January 27th. Sanford C. Bernstein increased their price objective on shares of STMicroelectronics from $45.00 to $55.00 in a report on Thursday, February 16th. Susquehanna dropped their price objective on shares of STMicroelectronics from 55.00 to 54.00 in a report on Sunday, May 7th. Craig Hallum increased their price objective on shares of STMicroelectronics from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Finally, StockNews.com raised shares of STMicroelectronics from a “buy” rating to a “strong-buy” rating in a report on Friday, May 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.22.

STMicroelectronics Stock Up 1.2 %

Shares of NYSE STM opened at $45.04 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.58 and a quick ratio of 1.87. The company has a market cap of $40.91 billion, a P/E ratio of 10.01, a PEG ratio of 2.05 and a beta of 1.58. STMicroelectronics has a 1 year low of $28.35 and a 1 year high of $53.53. The firm has a 50-day simple moving average of $47.31 and a two-hundred day simple moving average of $43.41.

STMicroelectronics (NYSE:STM – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The semiconductor producer reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.13. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.19 billion. STMicroelectronics had a net margin of 25.30% and a return on equity of 35.62%. During the same quarter last year, the firm earned $0.79 earnings per share. Research analysts anticipate that STMicroelectronics will post 4.25 earnings per share for the current year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Tuesday, June 27th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, June 26th. STMicroelectronics’s dividend payout ratio (DPR) is presently 4.44%.

STMicroelectronics Profile

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STMicroelectronics NV engages in the design, development, manufacture, and marketing of components, application-specific integrated circuits, full custom devices and semi-custom devices for analog, digital and mixed-signal applications. It operates through the following segments: Automotive and Discrete Group, Analog, MEMS and Sensors Group, and Microcontrollers and Digital ICs Group.