Parallel Advisors LLC Has $135,000 Stock Holdings in STMicroelectronics (NYSE:STM)

Parallel Advisors LLC trimmed its stake in STMicroelectronics (NYSE:STMFree Report) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,691 shares of the semiconductor producer’s stock after selling 248 shares during the quarter. Parallel Advisors LLC’s holdings in STMicroelectronics were worth $135,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. BayBridge Capital Group LLC acquired a new stake in STMicroelectronics in the fourth quarter worth $408,000. EverSource Wealth Advisors LLC grew its holdings in shares of STMicroelectronics by 59.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the semiconductor producer’s stock valued at $83,000 after buying an additional 620 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of STMicroelectronics by 4.7% during the fourth quarter. Franklin Resources Inc. now owns 16,228 shares of the semiconductor producer’s stock valued at $814,000 after buying an additional 724 shares during the last quarter. Assetmark Inc. grew its holdings in shares of STMicroelectronics by 8.8% during the fourth quarter. Assetmark Inc. now owns 39,467 shares of the semiconductor producer’s stock valued at $1,978,000 after buying an additional 3,195 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of STMicroelectronics by 1.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 37,738 shares of the semiconductor producer’s stock valued at $1,892,000 after buying an additional 413 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Stock Performance

Shares of STM stock opened at $42.93 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.58 and a current ratio of 3.34. The firm has a market cap of $38.76 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 3.94 and a beta of 1.62. STMicroelectronics has a 52 week low of $37.21 and a 52 week high of $55.85. The firm’s 50-day simple moving average is $41.38 and its two-hundred day simple moving average is $44.51.

STMicroelectronics (NYSE:STMGet Free Report) last released its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.61 billion. STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The firm’s revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. As a group, equities analysts forecast that STMicroelectronics will post 2.13 earnings per share for the current year.

STMicroelectronics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.84%. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 25th. STMicroelectronics’s payout ratio is presently 5.13%.

Wall Street Analyst Weigh In

STM has been the subject of a number of analyst reports. Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. HSBC began coverage on shares of STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating for the company. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Tuesday. Susquehanna reissued a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. Finally, William Blair reissued a “market perform” rating on shares of STMicroelectronics in a research report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.75.

Read Our Latest Stock Analysis on STMicroelectronics

STMicroelectronics Company Profile

(Free Report)

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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