Strategic Wealth Advisors Group LLC purchased a new stake in STMicroelectronics N.V. (NYSE:STM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 122,006 shares of the semiconductor producer’s stock, valued at approximately $1,754,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in shares of STMicroelectronics N.V. by 5.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 9,105 shares of the semiconductor producer’s stock valued at $127,000 after buying an additional 433 shares during the period. Comerica Bank lifted its holdings in shares of STMicroelectronics N.V. by 1.4% in the 1st quarter. Comerica Bank now owns 52,343 shares of the semiconductor producer’s stock valued at $814,000 after buying an additional 729 shares during the period. CIBC World Markets Inc. lifted its holdings in shares of STMicroelectronics N.V. by 8.1% in the 2nd quarter. CIBC World Markets Inc. now owns 13,636 shares of the semiconductor producer’s stock valued at $196,000 after buying an additional 1,027 shares during the period. Wetherby Asset Management Inc. lifted its holdings in shares of STMicroelectronics N.V. by 7.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 16,514 shares of the semiconductor producer’s stock valued at $237,000 after buying an additional 1,101 shares during the period. Finally, Financial Architects Inc lifted its holdings in shares of STMicroelectronics N.V. by 14.8% in the 2nd quarter. Financial Architects Inc now owns 9,141 shares of the semiconductor producer’s stock valued at $132,000 after buying an additional 1,181 shares during the period. 5.35% of the stock is owned by institutional investors and hedge funds.
STMicroelectronics N.V. (NYSE:STM) last released its earnings results on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. STMicroelectronics N.V.’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 EPS.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 26th. Stockholders of record on Tuesday, September 19th were issued a $0.06 dividend. The ex-dividend date was Monday, September 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.21%. STMicroelectronics N.V.’s payout ratio is currently 40.00%.
STMicroelectronics N.V. announced that its board has initiated a share buyback plan on Thursday, June 22nd that allows the company to repurchase $297.00 million in shares. This repurchase authorization allows the semiconductor producer to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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STM has been the subject of several recent analyst reports. Stifel Nicolaus raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating and reduced their price target for the company from $14.84 to $14.50 in a report on Tuesday, June 27th. BidaskClub cut STMicroelectronics N.V. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. J P Morgan Chase & Co raised STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 11th. Zacks Investment Research raised STMicroelectronics N.V. from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a report on Saturday, July 29th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of STMicroelectronics N.V. in a report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $18.38.
About STMicroelectronics N.V.
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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