Dimensional Fund Advisors LP Has $90.81 Million Holdings in STMicroelectronics (NYSE:STM)

Dimensional Fund Advisors LP raised its stake in STMicroelectronics (NYSE:STM) by 177.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,311,888 shares of the semiconductor producer’s stock after purchasing an additional 1,478,213 shares during the period. Dimensional Fund Advisors LP owned approximately 0.26% of STMicroelectronics worth $90,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of STM. Mather Group LLC. bought a new stake in shares of STMicroelectronics during the first quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. increased its holdings in STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after buying an additional 734 shares during the period. Ridgewood Investments LLC acquired a new position in shares of STMicroelectronics in the 2nd quarter valued at $51,000. Denver PWM LLC bought a new position in shares of STMicroelectronics during the 2nd quarter worth about $72,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of STMicroelectronics during the 1st quarter valued at about $113,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STM. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and increased their target price for the stock from $35.50 to $45.80 in a report on Tuesday, June 18th. TD Cowen dropped their price target on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Craig Hallum cut their price target on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Morgan Stanley lowered shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.13.

STMicroelectronics Price Performance

STMicroelectronics stock opened at $28.10 on Thursday. The stock has a market cap of $25.39 billion, a price-to-earnings ratio of 7.21, a P/E/G ratio of 3.36 and a beta of 1.58. STMicroelectronics has a 12-month low of $27.44 and a 12-month high of $51.27. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $31.14 and its 200 day simple moving average is $38.26.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. STMicroelectronics’s revenue for the quarter was down 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. As a group, research analysts anticipate that STMicroelectronics will post 1.66 earnings per share for the current year.

STMicroelectronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.28%. STMicroelectronics’s dividend payout ratio is 7.95%.

STMicroelectronics Profile

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.