STMicroelectronics (NYSE:STM) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its holdings in shares of STMicroelectronics (NYSE:STM) by 2.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,990 shares of the semiconductor producer’s stock after selling 1,670 shares during the quarter. Highland Capital Management LLC’s holdings in STMicroelectronics were worth $1,573,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in STM. Van ECK Associates Corp increased its stake in STMicroelectronics by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after buying an additional 1,719,257 shares during the period. Two Sigma Advisers LP raised its stake in shares of STMicroelectronics by 674.2% in the third quarter. Two Sigma Advisers LP now owns 1,396,700 shares of the semiconductor producer’s stock valued at $41,524,000 after acquiring an additional 1,216,300 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in STMicroelectronics in the third quarter valued at $7,642,000. Raymond James & Associates grew its stake in STMicroelectronics by 25.3% during the 3rd quarter. Raymond James & Associates now owns 192,372 shares of the semiconductor producer’s stock worth $5,719,000 after purchasing an additional 38,874 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in STMicroelectronics during the 3rd quarter worth about $4,158,000. Hedge funds and other institutional investors own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

STM has been the subject of several recent analyst reports. Barclays cut shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Susquehanna restated a “positive” rating and set a $33.00 target price on shares of STMicroelectronics in a research note on Thursday, November 21st. TD Cowen lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating and dropped their price target for the company from $32.00 to $25.00 in a research note on Monday, January 13th. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.11.

STMicroelectronics Trading Down 8.8 %

NYSE STM opened at $22.58 on Friday. The firm’s fifty day moving average is $25.33 and its two-hundred day moving average is $28.28. STMicroelectronics has a one year low of $21.96 and a one year high of $49.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. The firm has a market cap of $20.39 billion, a PE ratio of 9.29, a P/E/G ratio of 4.36 and a beta of 1.52.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. Analysts expect that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $0.36 annualized dividend and a yield of 1.59%. STMicroelectronics’s dividend payout ratio is currently 12.76%.

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.