SVB Wealth LLC Sells 1,169 Shares of STMicroelectronics (NYSE:STM)

SVB Wealth LLC trimmed its position in shares of STMicroelectronics (NYSE:STM) by 19.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,706 shares of the semiconductor producer’s stock after selling 1,169 shares during the period. SVB Wealth LLC’s holdings in STMicroelectronics were worth $236,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Thomas J. Herzfeld Advisors Inc. raised its position in STMicroelectronics by 548.4% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock worth $25,000 after purchasing an additional 499 shares in the last quarter. Huntington National Bank raised its position in STMicroelectronics by 112.7% in the third quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock worth $30,000 after purchasing an additional 365 shares in the last quarter. Headlands Technologies LLC acquired a new position in STMicroelectronics in the third quarter worth about $30,000. Spire Wealth Management raised its position in STMicroelectronics by 125.0% in the third quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock worth $31,000 after purchasing an additional 400 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of STMicroelectronics during the fourth quarter worth approximately $40,000. Institutional investors own 5.05% of the company’s stock.

Wall Street Analyst Weigh In

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

STMicroelectronics Price Performance

STM opened at $39.25 on Tuesday. STMicroelectronics has a one year low of $37.21 and a one year high of $55.85. The stock has a market capitalization of $35.43 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 2.58 and a beta of 1.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.17 and a quick ratio of 2.44. The company’s 50 day simple moving average is $44.02 and its 200-day simple moving average is $44.64.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm earned $1.32 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts anticipate that STMicroelectronics will post 2.99 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, June 25th. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. STMicroelectronics’s dividend payout ratio (DPR) is presently 4.48%.

STMicroelectronics Profile

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.