Assetmark Inc. Purchases 3,195 Shares of STMicroelectronics (NYSE:STM)

Assetmark Inc. grew its position in shares of STMicroelectronics (NYSE:STM) by 8.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,467 shares of the semiconductor producer’s stock after buying an additional 3,195 shares during the quarter. Assetmark Inc.’s holdings in STMicroelectronics were worth $1,978,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of STM. Van ECK Associates Corp lifted its position 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% in the 3rd 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 during the period. Grand Alliance Asset Management Ltd bought a new stake in shares of STMicroelectronics in the 4th quarter worth approximately $14,036,000. International Assets Investment Management LLC bought a new stake in shares of STMicroelectronics in the 4th quarter worth approximately $11,500,000. Finally, QRG Capital Management Inc. bought a new stake in shares of STMicroelectronics in the 3rd quarter worth approximately $5,884,000. Institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on STM shares. William Blair reaffirmed a “market perform” rating on shares of STMicroelectronics in a report on Friday, April 26th. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday, April 26th. 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 shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, HSBC began coverage on shares of STMicroelectronics in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, STMicroelectronics has a consensus rating of “Moderate Buy” and a consensus target price of $50.75.

STMicroelectronics Stock Up 0.5 %

STMicroelectronics stock opened at $41.89 on Friday. STMicroelectronics has a 1-year low of $37.21 and a 1-year high of $55.85. The firm has a market capitalization of $37.82 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 3.93 and a beta of 1.66. 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 firm has a 50 day simple moving average of $41.65 and a 200 day simple moving average of $44.57.

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

STMicroelectronics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, June 25th. STMicroelectronics’s payout ratio is 5.13%.

STMicroelectronics Company 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.