Modera Wealth Management LLC Boosts Stake in STMicroelectronics N.V. (NYSE:STM)

Modera Wealth Management LLC boosted its holdings in shares of STMicroelectronics N.V. (NYSE:STM) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,237 shares of the semiconductor producer’s stock after acquiring an additional 3,009 shares during the period. Modera Wealth Management LLC’s holdings in STMicroelectronics were worth $2,948,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Arkadios Wealth Advisors purchased a new stake in STMicroelectronics in the 1st quarter valued at $278,000. Ridgewood Investments LLC increased its position in STMicroelectronics by 325.1% during the first quarter. Ridgewood Investments LLC now owns 13,174 shares of the semiconductor producer’s stock worth $289,000 after purchasing an additional 10,075 shares during the last quarter. LPL Financial LLC raised its stake in STMicroelectronics by 3.3% during the first quarter. LPL Financial LLC now owns 123,889 shares of the semiconductor producer’s stock worth $2,721,000 after purchasing an additional 3,959 shares during the period. Phoenix Financial Ltd. acquired a new position in STMicroelectronics in the 1st quarter valued at about $794,000. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of STMicroelectronics during the 1st quarter worth approximately $344,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Stock Down 2.0%

STMicroelectronics stock opened at $26.02 on Thursday. The firm has a market capitalization of $23.37 billion, a P/E ratio of 37.71, a P/E/G ratio of 4.17 and a beta of 1.60. The company has a current ratio of 2.74, a quick ratio of 1.96 and a debt-to-equity ratio of 0.11. STMicroelectronics N.V. has a twelve month low of $17.25 and a twelve month high of $33.89. The stock’s fifty day simple moving average is $29.26 and its 200-day simple moving average is $25.53.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, July 24th. The semiconductor producer reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.71 billion. STMicroelectronics had a return on equity of 4.55% and a net margin of 5.49%. As a group, equities analysts expect that STMicroelectronics N.V. will post 0.85 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.36 dividend on an annualized basis and a yield of 1.38%. STMicroelectronics’s dividend payout ratio is currently 44.93%.

Analysts Set New Price Targets

STM has been the topic of several recent analyst reports. Robert W. Baird raised STMicroelectronics from a “neutral” rating to an “outperform” rating and upped their price target for the company from $23.00 to $50.00 in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of STMicroelectronics in a research note on Friday, July 25th. The Goldman Sachs Group set a $26.50 price objective on shares of STMicroelectronics and gave the stock a “neutral” rating in a research report on Friday, July 25th. Susquehanna boosted their target price on STMicroelectronics from $30.00 to $40.00 and gave the company a “positive” rating in a research report on Tuesday, July 22nd. Finally, Craig Hallum lowered STMicroelectronics from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.21.

About STMicroelectronics

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.