Boston Private Wealth LLC Decreases Stock Position in STMicroelectronics (NYSE:STM)

Boston Private Wealth LLC decreased its position in shares of STMicroelectronics (NYSE:STM) by 24.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,533 shares of the semiconductor producer’s stock after selling 1,771 shares during the period. Boston Private Wealth LLC’s holdings in STMicroelectronics were worth $241,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Kestra Private Wealth Services LLC boosted its stake in STMicroelectronics by 2.0% during the third quarter. Kestra Private Wealth Services LLC now owns 13,049 shares of the semiconductor producer’s stock valued at $569,000 after buying an additional 256 shares during the last quarter. Saturna Capital CORP grew its holdings in shares of STMicroelectronics by 0.4% in the second quarter. Saturna Capital CORP now owns 63,525 shares of the semiconductor producer’s stock valued at $2,311,000 after purchasing an additional 260 shares in the last quarter. Ballentine Partners LLC increased its position in STMicroelectronics by 3.6% in the second quarter. Ballentine Partners LLC now owns 7,520 shares of the semiconductor producer’s stock worth $274,000 after purchasing an additional 260 shares during the last quarter. Advisor Partners LLC raised its stake in STMicroelectronics by 3.6% during the second quarter. Advisor Partners LLC now owns 8,163 shares of the semiconductor producer’s stock valued at $297,000 after purchasing an additional 283 shares in the last quarter. Finally, 9258 Wealth Management LLC lifted its position in STMicroelectronics by 5.5% during the second quarter. 9258 Wealth Management LLC now owns 5,899 shares of the semiconductor producer’s stock valued at $215,000 after purchasing an additional 308 shares during the last quarter. 3.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:STM opened at $49.61 on Friday. STMicroelectronics has a 52-week low of $33.30 and a 52-week high of $52.15. The stock has a market cap of $45.06 billion, a P/E ratio of 25.18, a PEG ratio of 3.60 and a beta of 1.46. The business has a fifty day moving average of $49.27 and a two-hundred day moving average of $44.94. The company has a quick ratio of 1.98, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, October 28th. The semiconductor producer reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). STMicroelectronics had a return on equity of 21.30% and a net margin of 14.73%. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same period last year, the firm earned $0.26 earnings per share. STMicroelectronics’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, equities analysts anticipate that STMicroelectronics will post 2.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 21st. Investors of record on Tuesday, December 14th were issued a $0.066 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, December 13th. STMicroelectronics’s dividend payout ratio is presently 10.15%.

A number of research analysts recently commented on the stock. Craig Hallum increased their price target on shares of STMicroelectronics from $50.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, October 28th. Citigroup upgraded STMicroelectronics from a “neutral” rating to a “buy” rating in a report on Monday, January 10th. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a report on Friday, October 29th. Zacks Investment Research upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Wednesday. Finally, boosted their target price on shares of STMicroelectronics from $51.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 29th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, STMicroelectronics currently has a consensus rating of “Buy” and a consensus price target of $49.25.

STMicroelectronics Company Profile

STMicroelectronics NV designs, develops, manufactures and markets products, which offers discrete and standard commodity components, application-specific integrated circuits, full custom devices and semi-custom devices for analog, digital and mixed-signal applications. It operates through the following segments: Automotive and Discrete Group, Analog and MEMS Group, and Microcontrollers and Digital ICs Group.

Further Reading: Cyclical Stocks

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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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