Hsbc Holdings PLC Acquires 2,687 Shares of STMicroelectronics (NYSE:STM)

Hsbc Holdings PLC lifted its holdings in STMicroelectronics (NYSE:STM) by 28.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,025 shares of the semiconductor producer’s stock after buying an additional 2,687 shares during the period. Hsbc Holdings PLC’s holdings in STMicroelectronics were worth $473,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Franklin Resources Inc. raised its holdings in STMicroelectronics by 4.7% during the 4th 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 period. Goldman Sachs Group Inc. grew its holdings in shares of STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after purchasing an additional 120,399 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in STMicroelectronics during the 4th quarter valued at about $370,000. Capital International Investors boosted its position in STMicroelectronics by 6.0% in the 4th quarter. Capital International Investors now owns 3,058,401 shares of the semiconductor producer’s stock valued at $153,593,000 after buying an additional 172,399 shares during the period. Finally, Capital World Investors increased its position in shares of STMicroelectronics by 4.4% during the fourth quarter. Capital World Investors now owns 31,553 shares of the semiconductor producer’s stock worth $1,585,000 after acquiring an additional 1,317 shares during the period. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Price Performance

Shares of NYSE STM opened at $28.90 on Wednesday. STMicroelectronics has a fifty-two week low of $27.44 and a fifty-two week high of $51.27. The company has a market cap of $26.11 billion, a PE ratio of 7.41, a P/E/G ratio of 3.65 and a beta of 1.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35. The business has a 50-day simple moving average of $30.23 and a two-hundred day simple moving average of $37.70.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping the consensus estimate 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%. The business’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, equities analysts expect that STMicroelectronics will post 1.66 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio (DPR) is currently 7.95%.

Wall Street Analysts Forecast Growth

STM has been the topic of several research analyst reports. Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. The Goldman Sachs Group upgraded STMicroelectronics from a “sell” rating to a “neutral” rating and raised their price target for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. TD Cowen lowered their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 26th. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Sanford C. Bernstein reduced their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, STMicroelectronics has a consensus rating of “Moderate Buy” and a consensus target price of $43.13.

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.