Financial Counselors Inc. decreased its holdings in shares of STMicroelectronics N.V. (NYSE:STM) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,645 shares of the semiconductor producer’s stock after selling 1,845 shares during the quarter. Financial Counselors Inc.’s holdings in STMicroelectronics N.V. were worth $1,289,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in STM. Renaissance Technologies LLC grew its holdings in shares of STMicroelectronics N.V. by 362.4% during the first quarter. Renaissance Technologies LLC now owns 5,299,919 shares of the semiconductor producer’s stock worth $81,713,000 after buying an additional 4,153,795 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of STMicroelectronics N.V. during the first quarter worth $23,004,000. FMR LLC purchased a new stake in shares of STMicroelectronics N.V. during the first quarter worth $21,932,000. JPMorgan Chase & Co. grew its holdings in shares of STMicroelectronics N.V. by 1,004.2% during the second quarter. JPMorgan Chase & Co. now owns 1,301,673 shares of the semiconductor producer’s stock worth $18,718,000 after buying an additional 1,183,788 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of STMicroelectronics N.V. by 21.4% during the second quarter. Acadian Asset Management LLC now owns 4,624,153 shares of the semiconductor producer’s stock worth $66,495,000 after buying an additional 816,194 shares in the last quarter. 5.29% of the stock is owned by institutional investors and hedge funds.
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Shares of STMicroelectronics N.V. (STM) opened at 19.05 on Tuesday. STMicroelectronics N.V. has a one year low of $7.53 and a one year high of $19.09. The company has a 50 day moving average of $17.11 and a 200-day moving average of $16.02. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 38.96 and a beta of 0.64.
STMicroelectronics N.V. (NYSE:STM) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. On average, analysts anticipate that STMicroelectronics N.V. will post $0.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Tuesday, September 19th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Monday, September 18th. STMicroelectronics N.V.’s dividend payout ratio is presently 40.00%.
STMicroelectronics N.V. announced that its board has approved a share repurchase program on Thursday, June 22nd that authorizes the company to buyback $297.00 million in shares. This buyback authorization authorizes the semiconductor producer to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub raised shares of STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. J P Morgan Chase & Co raised shares of STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus raised shares of STMicroelectronics N.V. from a “hold” rating to a “buy” rating and dropped their target price for the stock from $14.84 to $14.50 in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $18.38.
About STMicroelectronics N.V.
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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