Grandview Asset Management LLC Buys Shares of 27,857 STMicroelectronics (NYSE:STM)

Grandview Asset Management LLC purchased a new position in shares of STMicroelectronics (NYSE:STM) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 27,857 shares of the semiconductor producer’s stock, valued at approximately $696,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Truvestments Capital LLC acquired a new position in STMicroelectronics during the third quarter worth $25,000. Archer Investment Corp acquired a new position in shares of STMicroelectronics during the 3rd quarter worth $30,000. GAMMA Investing LLC raised its stake in shares of STMicroelectronics by 81.4% during the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after buying an additional 531 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of STMicroelectronics in the 3rd quarter worth about $34,000. Finally, TD Private Client Wealth LLC grew its stake in STMicroelectronics by 108.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock valued at $46,000 after acquiring an additional 809 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STM. BNP Paribas began coverage on shares of STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 target price for the company. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. TD Cowen downgraded STMicroelectronics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $32.00 to $25.00 in a research report on Monday. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Finally, Craig Hallum dropped their price objective on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, STMicroelectronics presently has an average rating of “Hold” and an average price target of $34.11.

STMicroelectronics Trading Down 2.4 %

NYSE STM opened at $23.96 on Tuesday. The company has a market cap of $21.65 billion, a P/E ratio of 9.86, a P/E/G ratio of 3.20 and a beta of 1.52. STMicroelectronics has a 12 month low of $23.66 and a 12 month high of $49.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. The company has a 50-day moving average of $25.58 and a 200-day moving average of $29.60.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. STMicroelectronics’s revenue was down 26.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. As a group, equities analysts predict that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 25th. This represents a $0.36 annualized dividend and a yield of 1.50%. STMicroelectronics’s dividend payout ratio is presently 14.81%.

STMicroelectronics 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.