Wilmington Savings Fund Society FSB Cuts Stake in STMicroelectronics (NYSE:STM)

Wilmington Savings Fund Society FSB lessened its stake in STMicroelectronics (NYSE:STM) by 20.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,961 shares of the semiconductor producer’s stock after selling 1,285 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in STMicroelectronics were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Aigen Investment Management LP purchased a new stake in STMicroelectronics in the 3rd quarter worth $1,157,000. Clear Creek Financial Management LLC bought a new stake in shares of STMicroelectronics in the fourth quarter worth about $468,000. Point72 Asset Management L.P. purchased a new stake in shares of STMicroelectronics in the third quarter worth about $1,924,000. Diversified Trust Co purchased a new stake in shares of STMicroelectronics in the fourth quarter worth about $583,000. Finally, J2 Capital Management Inc bought a new position in STMicroelectronics during the fourth quarter valued at approximately $295,000. Institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on STM. Susquehanna decreased their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating on the stock in a report on Friday, January 31st. Barclays cut shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Morgan Stanley upgraded shares of STMicroelectronics from an “underweight” rating to an “equal weight” rating in a research report on Thursday. Craig Hallum reduced their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Bank of America cut shares of STMicroelectronics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.26.

STMicroelectronics Stock Performance

Shares of NYSE:STM opened at $23.92 on Friday. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 12 month low of $21.36 and a 12 month high of $49.05. The company has a market capitalization of $21.61 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.97 and a beta of 1.51. The firm’s 50-day moving average is $24.75 and its 200 day moving average is $27.10.

STMicroelectronics (NYSE:STM) last announced its 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 8.92% and a net margin of 11.74%. Research analysts predict that STMicroelectronics will post 0.82 EPS for the current year.

STMicroelectronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio (DPR) is presently 18.67%.

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.