Envestnet Portfolio Solutions Inc. Has $331,000 Stock Position in STMicroelectronics (NYSE:STM)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of STMicroelectronics (NYSE:STM) by 13.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,601 shares of the semiconductor producer’s stock after buying an additional 784 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in STMicroelectronics were worth $331,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of STM. Van ECK Associates Corp raised its holdings in shares of STMicroelectronics by 13.7% during the 4th quarter. Van ECK Associates Corp now owns 3,735,524 shares of the semiconductor producer’s stock worth $187,262,000 after buying an additional 448,978 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of STMicroelectronics by 92.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 643,578 shares of the semiconductor producer’s stock worth $27,777,000 after buying an additional 308,494 shares in the last quarter. Grand Alliance Asset Management Ltd bought a new stake in STMicroelectronics during the 4th quarter worth $14,036,000. International Assets Investment Management LLC bought a new stake in STMicroelectronics during the 4th quarter worth $11,500,000. Finally, QRG Capital Management Inc. bought a new stake in STMicroelectronics during the 3rd quarter worth $5,884,000. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Trading Up 0.5 %

NYSE STM opened at $41.89 on Friday. STMicroelectronics has a 12 month low of $37.21 and a 12 month high of $55.85. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $41.65 and its two-hundred day moving average price is $44.54. The firm has a market capitalization of $37.82 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 3.92 and a beta of 1.66.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 EPS 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 business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the company earned $1.10 EPS. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, analysts expect that STMicroelectronics will post 2.13 EPS for the current year.

STMicroelectronics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be given a dividend of $0.09 per share. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 25th. This represents a $0.36 annualized dividend and a dividend yield of 0.86%. STMicroelectronics’s dividend payout ratio is presently 5.13%.

Analysts Set New Price Targets

STM has been the topic of a number of research reports. Susquehanna restated a “positive” rating and set a $55.00 price objective on shares of STMicroelectronics in a research report on Monday, April 8th. William Blair restated a “market perform” rating on shares of STMicroelectronics in a research report on Friday, April 26th. HSBC started coverage on STMicroelectronics in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.75.

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.