Headlands Technologies LLC Raises Holdings in STMicroelectronics (NYSE:STM)

Headlands Technologies LLC increased its position in shares of STMicroelectronics (NYSE:STM) by 74.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,221 shares of the semiconductor producer’s stock after buying an additional 523 shares during the period. Headlands Technologies LLC’s holdings in STMicroelectronics were worth $61,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in STM. Grantham Mayo Van Otterloo & Co. LLC raised its stake in STMicroelectronics by 0.6% in 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 raised its position in shares of STMicroelectronics by 92.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 643,578 shares of the semiconductor producer’s stock worth $27,777,000 after acquiring an additional 308,494 shares in the last quarter. FMR LLC lifted its stake in shares of STMicroelectronics by 27.9% during the 3rd 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. boosted its position in STMicroelectronics by 21.1% during 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. grew its stake in STMicroelectronics by 7.8% in 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 institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. HSBC initiated coverage on shares of STMicroelectronics in a research report on Thursday, February 22nd. They set a “buy” rating for the company. Susquehanna reaffirmed a “positive” rating and issued a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th. Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. William Blair reissued a “market perform” rating on shares of STMicroelectronics in a research report on Friday, April 26th. Finally, Craig Hallum reduced their target price on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.75.

STMicroelectronics Price Performance

Shares of STM opened at $38.75 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 2.58. The company’s fifty day moving average price is $43.57 and its 200-day moving average price is $44.50. STMicroelectronics has a 1-year low of $37.21 and a 1-year high of $55.85. The firm has a market capitalization of $34.98 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 3.71 and a beta of 1.66.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.05). STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The firm’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, equities research analysts predict that STMicroelectronics will post 2.13 EPS for the current year.

STMicroelectronics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, June 25th. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. STMicroelectronics’s dividend payout ratio (DPR) is currently 5.13%.

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.