STMicroelectronics (NYSE:STM) Stake Raised by Inspire Advisors LLC

Inspire Advisors LLC boosted its holdings in STMicroelectronics (NYSE:STM) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,970 shares of the semiconductor producer’s stock after acquiring an additional 363 shares during the quarter. Inspire Advisors LLC’s holdings in STMicroelectronics were worth $509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STM. Van ECK Associates Corp raised its position in STMicroelectronics by 55.3% in the first quarter. Van ECK Associates Corp now owns 5,800,911 shares of the semiconductor producer’s stock worth $250,831,000 after acquiring an additional 2,065,387 shares in the last quarter. Lazard Asset Management LLC increased its stake in STMicroelectronics by 1,564,831.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after purchasing an additional 1,079,734 shares in the last quarter. Quadrature Capital Ltd increased its stake in STMicroelectronics by 337.8% in the 4th quarter. Quadrature Capital Ltd now owns 510,834 shares of the semiconductor producer’s stock worth $25,561,000 after purchasing an additional 394,147 shares in the last quarter. Federated Hermes Inc. increased its stake in STMicroelectronics by 128.1% in the 2nd quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock worth $25,469,000 after purchasing an additional 364,184 shares in the last quarter. Finally, Delta Global Management LP increased its stake in STMicroelectronics by 31.3% in the 1st quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer’s stock worth $45,300,000 after purchasing an additional 249,905 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Trading Up 2.3 %

Shares of NYSE STM opened at $28.59 on Friday. The stock has a market cap of $25.83 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 3.41 and a beta of 1.58. The business has a 50 day simple moving average of $33.37 and a 200 day simple moving average of $39.28. STMicroelectronics has a 52 week low of $27.44 and a 52 week high of $51.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the company earned $1.06 EPS. The company’s revenue for the quarter was down 25.3% on a year-over-year basis. On average, research analysts predict that STMicroelectronics will post 1.66 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a yield of 1.26%. STMicroelectronics’s dividend payout ratio (DPR) is currently 7.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STM. Sanford C. Bernstein dropped their price target on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Craig Hallum dropped their price target on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. The Goldman Sachs Group raised STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their target price for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. TD Cowen lowered their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, STMicroelectronics has an average rating of “Moderate Buy” and a consensus target price of $43.13.

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.