Azzad Asset Management Inc. ADV Makes New Investment in STMicroelectronics (NYSE:STM)

Azzad Asset Management Inc. ADV purchased a new position in STMicroelectronics (NYSE:STM) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 163,911 shares of the semiconductor producer’s stock, valued at approximately $3,599,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Valeo Financial Advisors LLC bought a new position in shares of STMicroelectronics during the 4th quarter worth about $253,000. ABC Arbitrage SA bought a new position in shares of STMicroelectronics during the 4th quarter worth about $1,543,000. Waterfront Wealth Inc. bought a new position in shares of STMicroelectronics during the 4th quarter worth about $971,000. Callan Capital LLC lifted its holdings in shares of STMicroelectronics by 11.9% during the 4th quarter. Callan Capital LLC now owns 8,572 shares of the semiconductor producer’s stock worth $214,000 after acquiring an additional 913 shares during the period. Finally, Shariaportfolio Inc. bought a new position in shares of STMicroelectronics during the 4th quarter worth about $1,584,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Trading Down 2.4%

STM opened at $29.20 on Friday. STMicroelectronics has a 1-year low of $17.25 and a 1-year high of $43.35. The firm has a 50-day moving average price of $24.15 and a two-hundred day moving average price of $24.42. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $26.23 billion, a PE ratio of 17.59, a PEG ratio of 1.16 and a beta of 1.56.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.55 billion. As a group, equities analysts anticipate that STMicroelectronics will post 0.85 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, March 24th. STMicroelectronics’s dividend payout ratio is 25.42%.

Analyst Ratings Changes

STM has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of STMicroelectronics in a report on Friday, April 25th. Dbs Bank downgraded shares of STMicroelectronics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, TD Cowen lifted their price target on shares of STMicroelectronics from $23.00 to $30.00 and gave the company a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.97.

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.