Legacy Wealth Asset Management LLC Has $454,000 Stock Position in STMicroelectronics (NYSE:STM)

Legacy Wealth Asset Management LLC raised its position in STMicroelectronics (NYSE:STM) by 5.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 15,267 shares of the semiconductor producer’s stock after purchasing an additional 736 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in STMicroelectronics were worth $454,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its position in STMicroelectronics by 374.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer’s stock worth $1,644,000 after acquiring an additional 29,999 shares during the last quarter. Washington Capital Management Inc. acquired a new stake in shares of STMicroelectronics in the third quarter valued at $1,112,000. Jane Street Group LLC raised its holdings in shares of STMicroelectronics by 153.8% in the first quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer’s stock valued at $7,718,000 after buying an additional 108,152 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in STMicroelectronics during the 1st quarter worth about $554,000. Finally, Lazard Asset Management LLC grew its holdings in STMicroelectronics by 1,564,831.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after acquiring an additional 1,079,734 shares during the last quarter. 5.05% of the stock is owned by institutional investors.

STMicroelectronics Stock Performance

Shares of STM stock opened at $28.22 on Friday. The stock has a market cap of $25.49 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 3.40 and a beta of 1.57. The stock has a 50-day moving average of $29.01 and a 200-day moving average of $35.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. STMicroelectronics has a one year low of $26.63 and a one year high of $51.27.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the business posted $1.06 earnings per share. The business’s revenue for the quarter was down 25.3% compared to the same quarter last year. As a group, sell-side analysts expect that STMicroelectronics will post 1.63 earnings per share for the current year.

STMicroelectronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s payout ratio is presently 7.69%.

Analyst Ratings Changes

A number of equities analysts have weighed in on STM shares. TD Cowen dropped their target price 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 research report on Thursday, September 19th. Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Craig Hallum cut their price target on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Susquehanna lowered their price objective on STMicroelectronics from $45.00 to $35.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.80.

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.