Headlands Technologies LLC Buys 523 Shares of STMicroelectronics (NYSE:STM)

Headlands Technologies LLC grew its stake in STMicroelectronics (NYSE:STM) by 74.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,221 shares of the semiconductor producer’s stock after purchasing an additional 523 shares during the quarter. Headlands Technologies LLC’s holdings in STMicroelectronics were worth $61,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of STM. Qube Research & Technologies Ltd increased its stake in shares of STMicroelectronics by 92.1% during the third quarter. Qube Research & Technologies Ltd now owns 643,578 shares of the semiconductor producer’s stock valued at $27,777,000 after purchasing an additional 308,494 shares in the last quarter. International Assets Investment Management LLC bought a new stake in STMicroelectronics in the fourth quarter worth $11,500,000. QRG Capital Management Inc. purchased a new stake in shares of STMicroelectronics in the third quarter worth $5,884,000. FMR LLC increased its holdings in shares of STMicroelectronics by 27.9% during the third quarter. FMR LLC now owns 589,282 shares of the semiconductor producer’s stock valued at $25,433,000 after acquiring an additional 128,707 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of STMicroelectronics by 21.1% in the 4th quarter. Federated Hermes Inc. now owns 539,993 shares of the semiconductor producer’s stock worth $27,070,000 after purchasing an additional 94,131 shares during the last quarter. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Price Performance

NYSE STM opened at $38.75 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 2.58. STMicroelectronics has a 1-year low of $37.21 and a 1-year high of $55.85. The stock has a market capitalization of $34.98 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 3.71 and a beta of 1.66. The business’s fifty day moving average price is $43.57 and its 200-day moving average price is $44.50.

STMicroelectronics (NYSE:STM) last posted 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 firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $1.10 EPS. On average, equities analysts predict that STMicroelectronics will post 2.13 earnings per share for the current year.

STMicroelectronics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.93%. This is a positive change 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 5.13%.

Wall Street Analysts Forecast Growth

STM has been the topic of several recent analyst reports. Craig Hallum cut their price objective on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Susquehanna restated a “positive” rating and issued a $55.00 price objective on shares of STMicroelectronics in a report on Monday, April 8th. William Blair reiterated a “market perform” rating on shares of STMicroelectronics in a research note on Friday, April 26th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, HSBC assumed coverage on STMicroelectronics in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.