Waldron Private Wealth LLC Buys New Holdings in STMicroelectronics (NYSE:STM)

Waldron Private Wealth LLC purchased a new position in shares of STMicroelectronics (NYSE:STM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,137 shares of the semiconductor producer’s stock, valued at approximately $34,000.

A number of other large investors have also modified their holdings of the stock. Eastern Bank acquired a new stake in shares of STMicroelectronics in the 3rd quarter valued at about $178,000. Raymond James & Associates increased its stake in shares of STMicroelectronics by 25.3% in the third quarter. Raymond James & Associates now owns 192,372 shares of the semiconductor producer’s stock valued at $5,719,000 after purchasing an additional 38,874 shares during the period. Blue Trust Inc. raised its stake in STMicroelectronics by 65.2% during the 3rd quarter. Blue Trust Inc. now owns 9,668 shares of the semiconductor producer’s stock valued at $287,000 after acquiring an additional 3,814 shares in the last quarter. Inspire Advisors LLC raised its stake in shares of STMicroelectronics by 21.5% during the third quarter. Inspire Advisors LLC now owns 15,760 shares of the semiconductor producer’s stock valued at $469,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Naviter Wealth LLC raised its position in shares of STMicroelectronics by 25.5% during the 3rd quarter. Naviter Wealth LLC now owns 13,945 shares of the semiconductor producer’s stock worth $416,000 after buying an additional 2,833 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Price Performance

STMicroelectronics stock opened at $28.15 on Friday. The company has a market capitalization of $25.43 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 3.40 and a beta of 1.57. The business has a 50 day simple moving average of $29.06 and a 200 day simple moving average of $35.98. STMicroelectronics has a one year low of $26.63 and a one year high of $51.27. 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 (NYSE:STM) last released its quarterly earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. STMicroelectronics’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 EPS. On average, sell-side analysts forecast that STMicroelectronics will post 1.63 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is currently 9.63%.

Analyst Upgrades and Downgrades

STM has been the subject of several research reports. TD Cowen decreased their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Susquehanna lowered their price objective on shares of STMicroelectronics from $45.00 to $35.00 and set a “positive” rating on the stock in a research report on Monday. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, Sanford C. Bernstein decreased their price objective 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 research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, STMicroelectronics currently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

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.