Boston Private Wealth LLC Has $241,000 Stake in STMicroelectronics (NYSE:STM)

Boston Private Wealth LLC reduced its stake in shares of STMicroelectronics (NYSE:STM) by 24.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,533 shares of the semiconductor producer’s stock after selling 1,771 shares during the quarter. Boston Private Wealth LLC’s holdings in STMicroelectronics were worth $241,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC raised its position in shares of STMicroelectronics by 2.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 13,049 shares of the semiconductor producer’s stock valued at $569,000 after acquiring an additional 256 shares during the period. Saturna Capital CORP raised its holdings in STMicroelectronics by 0.4% in the second quarter. Saturna Capital CORP now owns 63,525 shares of the semiconductor producer’s stock worth $2,311,000 after purchasing an additional 260 shares during the period. Ballentine Partners LLC boosted its position in shares of STMicroelectronics by 3.6% during the second quarter. Ballentine Partners LLC now owns 7,520 shares of the semiconductor producer’s stock worth $274,000 after purchasing an additional 260 shares in the last quarter. Advisor Partners LLC grew its holdings in shares of STMicroelectronics by 3.6% in the 2nd quarter. Advisor Partners LLC now owns 8,163 shares of the semiconductor producer’s stock valued at $297,000 after buying an additional 283 shares during the period. Finally, 9258 Wealth Management LLC increased its position in shares of STMicroelectronics by 5.5% in the 2nd quarter. 9258 Wealth Management LLC now owns 5,899 shares of the semiconductor producer’s stock valued at $215,000 after buying an additional 308 shares in the last quarter. 3.43% of the stock is owned by institutional investors.

Shares of STM stock opened at $49.61 on Friday. The company has a market capitalization of $45.06 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 3.60 and a beta of 1.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.98 and a current ratio of 2.67. The company has a 50-day simple moving average of $49.27 and a two-hundred day simple moving average of $44.94. STMicroelectronics has a 52-week low of $33.30 and a 52-week high of $52.15.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 28th. The semiconductor producer reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). STMicroelectronics had a return on equity of 21.30% and a net margin of 14.73%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, sell-side analysts forecast that STMicroelectronics will post 2.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 21st. Investors of record on Tuesday, December 14th were paid a dividend of $0.066 per share. This represents a $0.26 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, December 13th. STMicroelectronics’s dividend payout ratio is 10.15%.

A number of research firms have issued reports on STM. Morgan Stanley began coverage on STMicroelectronics in a research note on Monday, December 20th. They issued an “overweight” rating and a $50.00 target price for the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a report on Friday, October 29th. Barclays reissued an “overweight” rating on shares of STMicroelectronics in a research report on Friday, October 29th. Craig Hallum increased their target price on STMicroelectronics from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, October 28th. Finally, Zacks Investment Research upgraded STMicroelectronics from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $49.25.

STMicroelectronics Profile

STMicroelectronics NV designs, develops, manufactures and markets products, which offers discrete and standard commodity components, application-specific integrated circuits, full custom devices and semi-custom devices for analog, digital and mixed-signal applications. It operates through the following segments: Automotive and Discrete Group, Analog and MEMS Group, and Microcontrollers and Digital ICs Group.

Read More: Capital Gains Distribution

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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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