Signaturefd LLC Purchases 1,040 Shares of STMicroelectronics (NYSE:STM)

Signaturefd LLC raised its position in STMicroelectronics (NYSE:STM) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,243 shares of the semiconductor producer’s stock after purchasing an additional 1,040 shares during the period. Signaturefd LLC’s holdings in STMicroelectronics were worth $1,065,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC grew its position in STMicroelectronics by 0.6% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,229,200 shares of the semiconductor producer’s stock worth $96,212,000 after buying an additional 12,476 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of STMicroelectronics by 92.1% during the third quarter. Qube Research & Technologies Ltd now owns 643,578 shares of the semiconductor producer’s stock worth $27,777,000 after purchasing an additional 308,494 shares in the last quarter. FMR LLC increased its position in shares of STMicroelectronics by 27.9% in the third quarter. FMR LLC now owns 589,282 shares of the semiconductor producer’s stock worth $25,433,000 after purchasing an additional 128,707 shares during the last quarter. Federated Hermes Inc. raised its stake in STMicroelectronics by 21.1% in the fourth quarter. Federated Hermes Inc. now owns 539,993 shares of the semiconductor producer’s stock valued at $27,070,000 after purchasing an additional 94,131 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in STMicroelectronics by 7.8% during the third quarter. Envestnet Asset Management Inc. now owns 468,513 shares of the semiconductor producer’s stock valued at $20,221,000 after purchasing an additional 33,975 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Susquehanna restated a “positive” rating and set a $55.00 price objective on shares of STMicroelectronics in a research report on Monday, April 8th. StockNews.com downgraded STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 31st. Craig Hallum cut their price objective on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Finally, HSBC assumed coverage on STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.75.

STMicroelectronics Stock Performance

NYSE STM opened at $39.25 on Tuesday. The company has a 50-day simple moving average of $44.02 and a two-hundred day simple moving average of $44.64. STMicroelectronics has a 12-month low of $37.21 and a 12-month high of $55.85. The firm has a market cap of $35.43 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 2.58 and a beta of 1.69. The company has a quick ratio of 2.44, a current ratio of 3.17 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.08 billion. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. STMicroelectronics’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 EPS. On average, equities analysts forecast that STMicroelectronics will post 2.99 EPS for the current year.

STMicroelectronics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 25th. STMicroelectronics’s payout ratio is presently 4.48%.

About STMicroelectronics

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.