Sequoia Financial Advisors LLC Lowers Stock Holdings in STMicroelectronics (NYSE:STM)

Sequoia Financial Advisors LLC lowered its holdings in STMicroelectronics (NYSE:STM) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,783 shares of the semiconductor producer’s stock after selling 794 shares during the period. Sequoia Financial Advisors LLC’s holdings in STMicroelectronics were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. HBK Sorce Advisory LLC purchased a new stake in shares of STMicroelectronics in the fourth quarter valued at $234,000. International Assets Investment Management LLC purchased a new stake in shares of STMicroelectronics in the fourth quarter valued at $229,000. Mainstay Capital Management LLC ADV purchased a new stake in shares of STMicroelectronics in the fourth quarter valued at $245,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of STMicroelectronics in the fourth quarter valued at $286,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in STMicroelectronics in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Trading Down 1.8 %

Shares of STM opened at $39.59 on Friday. The stock’s 50-day moving average is $44.31 and its two-hundred day moving average is $44.68. The stock has a market cap of $35.74 billion, a PE ratio of 8.88, a P/E/G ratio of 2.67 and a beta of 1.69. 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.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, January 25th. The semiconductor producer reported $1.14 EPS for the quarter, topping 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 return on equity of 27.70% and a net margin of 24.36%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Equities analysts forecast that STMicroelectronics will post 3.02 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The business also recently disclosed 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, June 25th. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s payout ratio is currently 4.48%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STM. Craig Hallum reduced their target price on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Susquehanna reiterated a “positive” rating and issued a $55.00 target price on shares of STMicroelectronics in a report on Monday, April 8th. StockNews.com cut STMicroelectronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. Finally, HSBC began coverage on STMicroelectronics in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, STMicroelectronics currently has an average rating of “Moderate Buy” and a consensus target price 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.