Signaturefd LLC Has $480,000 Holdings in STMicroelectronics (NYSE:STM)

Signaturefd LLC cut its stake in STMicroelectronics (NYSE:STM) by 25.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,132 shares of the semiconductor producer’s stock after selling 5,455 shares during the period. Signaturefd LLC’s holdings in STMicroelectronics were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC boosted its stake in STMicroelectronics by 6.3% in the 1st quarter. Bleakley Financial Group LLC now owns 5,051 shares of the semiconductor producer’s stock worth $218,000 after purchasing an additional 298 shares during the period. Inspire Advisors LLC lifted its position in STMicroelectronics by 2.9% during the 2nd quarter. Inspire Advisors LLC now owns 12,970 shares of the semiconductor producer’s stock worth $509,000 after buying an additional 363 shares in the last quarter. Gallacher Capital Management LLC lifted its position in STMicroelectronics by 4.6% during the 2nd quarter. Gallacher Capital Management LLC now owns 9,783 shares of the semiconductor producer’s stock worth $384,000 after buying an additional 427 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in STMicroelectronics by 6.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,967 shares of the semiconductor producer’s stock worth $352,000 after buying an additional 564 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in STMicroelectronics by 5.9% during the 1st quarter. Earnest Partners LLC now owns 11,834 shares of the semiconductor producer’s stock worth $512,000 after buying an additional 657 shares in the last quarter. 5.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on STM. Susquehanna cut their price target on shares of STMicroelectronics from $45.00 to $35.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Sanford C. Bernstein dropped their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Morgan Stanley cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Craig Hallum dropped their target price on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

STMicroelectronics Stock Performance

Shares of NYSE:STM opened at $28.20 on Friday. The company’s 50 day moving average price is $29.01 and its two-hundred day moving average price is $35.88. STMicroelectronics has a 12-month low of $26.63 and a 12-month high of $51.27. The firm has a market cap of $25.48 billion, a PE ratio of 7.23, a PEG ratio of 3.40 and a beta of 1.57. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17.

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

STMicroelectronics Dividend Announcement

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

STMicroelectronics Company 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.