8,506 Shares in STMicroelectronics (NYSE:STM) Acquired by Tidal Investments LLC

Tidal Investments LLC purchased a new position in STMicroelectronics (NYSE:STM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,506 shares of the semiconductor producer’s stock, valued at approximately $212,000.

Other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in STMicroelectronics in the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its holdings in STMicroelectronics by 225.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock worth $33,000 after purchasing an additional 921 shares in the last quarter. Rakuten Securities Inc. raised its holdings in STMicroelectronics by 197.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock worth $44,000 after purchasing an additional 1,180 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in STMicroelectronics during the fourth quarter worth approximately $53,000. Finally, Crews Bank & Trust acquired a new stake in STMicroelectronics during the fourth quarter worth approximately $70,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a report on Friday, April 25th. TD Cowen lifted their target price on shares of STMicroelectronics from $18.00 to $23.00 and gave the company a “hold” rating in a report on Friday, April 25th. Morgan Stanley raised shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a report on Thursday, February 13th. Dbs Bank cut shares of STMicroelectronics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, Jefferies Financial Group raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, STMicroelectronics has an average rating of “Hold” and a consensus target price of $30.97.

STMicroelectronics Stock Performance

Shares of STM opened at $25.02 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 3.11. The company’s fifty day moving average is $22.62 and its two-hundred day moving average is $24.18. The stock has a market capitalization of $22.47 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.16 and a beta of 1.53. STMicroelectronics has a 1 year low of $17.25 and a 1 year high of $45.39.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.55 billion. On average, sell-side analysts predict that STMicroelectronics will post 0.85 earnings per share for the current year.

STMicroelectronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, March 24th. This represents a $0.36 dividend on an annualized basis and a yield of 1.44%. STMicroelectronics’s dividend payout ratio (DPR) is 25.42%.

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.