Perennial Investment Advisors LLC Reduces Position in STMicroelectronics (NYSE:STM)

Perennial Investment Advisors LLC lessened its holdings in shares of STMicroelectronics (NYSE:STMGet Rating) by 38.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,332 shares of the semiconductor producer’s stock after selling 3,910 shares during the period. Perennial Investment Advisors LLC’s holdings in STMicroelectronics were worth $273,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STM. Cassady Schiller Wealth Management LLC bought a new position in STMicroelectronics in the fourth quarter worth approximately $26,000. Fifth Third Bancorp grew its holdings in shares of STMicroelectronics by 1,207.1% during the fourth quarter. Fifth Third Bancorp now owns 549 shares of the semiconductor producer’s stock valued at $27,000 after buying an additional 507 shares during the last quarter. CWM LLC purchased a new stake in shares of STMicroelectronics during the fourth quarter valued at $32,000. MCF Advisors LLC purchased a new stake in STMicroelectronics in the first quarter valued at $39,000. Finally, West Bancorporation Inc. purchased a new stake in STMicroelectronics in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 11.49% of the company’s stock.

STMicroelectronics Trading Down 2.7 %

NYSE STM opened at $38.52 on Friday. STMicroelectronics has a 12 month low of $28.35 and a 12 month high of $52.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.28 and a quick ratio of 1.90. The company has a market capitalization of $34.99 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 2.04 and a beta of 1.54. The company’s fifty day moving average price is $34.91 and its two-hundred day moving average price is $38.85.

STMicroelectronics (NYSE:STMGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The semiconductor producer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.69 billion. STMicroelectronics had a net margin of 20.08% and a return on equity of 29.96%. The firm’s revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. As a group, research analysts predict that STMicroelectronics will post 3.88 earnings per share for the current fiscal year.

STMicroelectronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 28th. Investors of record on Tuesday, June 21st were issued a $0.051 dividend. The ex-dividend date was Friday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. STMicroelectronics’s dividend payout ratio (DPR) is presently 6.58%.

Analysts Set New Price Targets

Several research firms have recently issued reports on STM. Cowen increased their target price on shares of STMicroelectronics from $44.00 to $50.00 in a research note on Friday, July 29th. UBS Group cut their price objective on shares of STMicroelectronics from €44.00 ($45.36) to €38.00 ($39.18) and set a “neutral” rating for the company in a report on Thursday, April 28th. Cowen increased their price objective on shares of STMicroelectronics from $44.00 to $50.00 in a report on Friday, July 29th. Craig Hallum cut their price target on shares of STMicroelectronics from $65.00 to $55.00 in a report on Wednesday, April 27th. Finally, Barclays cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.13.

STMicroelectronics Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding STM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STMicroelectronics (NYSE:STMGet Rating).

Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

Receive News & Ratings for STMicroelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for STMicroelectronics and related companies with MarketBeat.com's FREE daily email newsletter.