Dorsey Wright & Associates Takes $1.13 Million Position in STMicroelectronics N.V. (STM)
Dorsey Wright & Associates purchased a new position in STMicroelectronics N.V. (NYSE:STM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 184,343 shares of the semiconductor producer’s stock, valued at approximately $1,127,000.
Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of STMicroelectronics N.V. by 433.7% in the first quarter. Bank of America Corp DE now owns 519,711 shares of the semiconductor producer’s stock worth $8,035,000 after acquiring an additional 422,337 shares during the period. Airain ltd bought a new position in shares of STMicroelectronics N.V. in the second quarter worth $1,082,000. Highbridge Capital Management LLC bought a new position in shares of STMicroelectronics N.V. in the first quarter worth $23,004,000. US Bancorp DE boosted its holdings in shares of STMicroelectronics N.V. by 171.0% in the second quarter. US Bancorp DE now owns 521,292 shares of the semiconductor producer’s stock worth $7,495,000 after acquiring an additional 328,911 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of STMicroelectronics N.V. by 74.8% in the first quarter. Jane Street Group LLC now owns 146,237 shares of the semiconductor producer’s stock worth $2,261,000 after acquiring an additional 62,592 shares during the period. 5.29% of the stock is owned by hedge funds and other institutional investors.
STM has been the subject of a number of analyst reports. BidaskClub raised STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Zacks Investment Research lowered STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. Stifel Nicolaus raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating and cut their price target for the stock from $14.84 to $14.50 in a report on Tuesday, June 27th. Finally, J P Morgan Chase & Co raised STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $18.38.
Shares of STMicroelectronics N.V. (NYSE STM) traded up 1.23% on Thursday, reaching $18.97. 755,670 shares of the company traded hands. STMicroelectronics N.V. has a 1-year low of $7.56 and a 1-year high of $19.22. The company has a 50-day moving average of $17.22 and a 200-day moving average of $16.07. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 38.79 and a beta of 0.64.
STMicroelectronics N.V. (NYSE:STM) last issued its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). STMicroelectronics N.V. had a return on equity of 10.60% and a net margin of 5.97%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business earned $0.03 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts anticipate that STMicroelectronics N.V. will post $0.82 earnings per share for the current fiscal year.
STMicroelectronics N.V. declared that its board has authorized a share repurchase plan on Thursday, June 22nd that permits the company to repurchase $297.00 million in shares. This repurchase authorization permits the semiconductor producer to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, September 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.28%. STMicroelectronics N.V.’s dividend payout ratio (DPR) is presently 40.00%.
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STMicroelectronics N.V. Company Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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