Kornitzer Capital Management Inc. KS Has $8.93 Million Stock Holdings in STMicroelectronics (NYSE:STM)

Kornitzer Capital Management Inc. KS grew its position in shares of STMicroelectronics (NYSE:STM) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,126 shares of the semiconductor producer’s stock after acquiring an additional 28,600 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in STMicroelectronics were worth $8,929,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Thomas J. Herzfeld Advisors Inc. boosted its holdings in STMicroelectronics by 548.4% during the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock worth $25,000 after purchasing an additional 499 shares during the last quarter. Huntington National Bank grew its holdings in shares of STMicroelectronics by 112.7% in the 3rd quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock valued at $30,000 after acquiring an additional 365 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of STMicroelectronics in the third quarter valued at about $30,000. Spire Wealth Management raised its holdings in STMicroelectronics by 125.0% during the third quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock worth $31,000 after acquiring an additional 400 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in STMicroelectronics during the fourth quarter valued at approximately $40,000. 5.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. HSBC began coverage on STMicroelectronics in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. Susquehanna reaffirmed a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. StockNews.com downgraded shares of STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Finally, Craig Hallum lowered their price objective on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.75.

STMicroelectronics Stock Performance

STM stock traded down $1.01 during midday trading on Friday, reaching $38.60. 3,997,688 shares of the company were exchanged, compared to its average volume of 2,877,852. STMicroelectronics has a one year low of $37.21 and a one year high of $55.85. The firm has a market capitalization of $34.85 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 2.65 and a beta of 1.69. The business has a 50-day moving average price of $44.15 and a two-hundred day moving average price of $44.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.17 and a quick ratio of 2.44.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 EPS for the quarter, topping the consensus estimate of $0.95 by $0.19. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.08 billion. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. STMicroelectronics’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 EPS. Equities research analysts forecast that STMicroelectronics will post 2.99 EPS for the current year.

STMicroelectronics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be given a $0.09 dividend. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 25th. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. STMicroelectronics’s dividend payout ratio is presently 4.48%.

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.