First Allied Advisory Services Inc. Has $563,000 Position in STMicroelectronics N.V. (STM)
First Allied Advisory Services Inc. increased its holdings in STMicroelectronics N.V. (NYSE:STM) by 26.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,994 shares of the semiconductor producer’s stock after purchasing an additional 6,031 shares during the quarter. First Allied Advisory Services Inc.’s holdings in STMicroelectronics were worth $563,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Wells Fargo & Company MN boosted its position in STMicroelectronics by 20.7% during the third quarter. Wells Fargo & Company MN now owns 331,981 shares of the semiconductor producer’s stock valued at $6,447,000 after acquiring an additional 56,994 shares during the last quarter. JPMorgan Chase & Co. boosted its position in STMicroelectronics by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 1,446,567 shares of the semiconductor producer’s stock valued at $27,818,000 after acquiring an additional 144,894 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in STMicroelectronics during the third quarter valued at $388,000. Eagle Asset Management Inc. boosted its position in STMicroelectronics by 15.6% during the third quarter. Eagle Asset Management Inc. now owns 24,055 shares of the semiconductor producer’s stock valued at $477,000 after acquiring an additional 3,238 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in STMicroelectronics by 17.5% during the third quarter. Ameriprise Financial Inc. now owns 438,387 shares of the semiconductor producer’s stock valued at $8,514,000 after acquiring an additional 65,333 shares during the last quarter. 5.06% of the stock is currently owned by institutional investors.
A number of brokerages have commented on STM. ValuEngine cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Craig Hallum reaffirmed a “buy” rating on shares of STMicroelectronics in a research report on Wednesday, September 13th. Finally, Zacks Investment Research raised shares of STMicroelectronics from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. STMicroelectronics currently has an average rating of “Buy” and a consensus price target of $21.88.
Shares of STMicroelectronics N.V. (NYSE STM) traded down $0.08 during midday trading on Wednesday, hitting $21.70. 2,800,400 shares of the stock traded hands, compared to its average volume of 4,499,773. STMicroelectronics N.V. has a 52-week low of $10.46 and a 52-week high of $24.80. The firm has a market capitalization of $19,842.23, a price-to-earnings ratio of 29.84, a P/E/G ratio of 4.75 and a beta of 0.78. The company has a quick ratio of 1.73, a current ratio of 2.29 and a debt-to-equity ratio of 0.33.
STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, October 26th. The semiconductor producer reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. STMicroelectronics had a net margin of 7.84% and a return on equity of 13.47%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the business earned $0.11 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. sell-side analysts forecast that STMicroelectronics N.V. will post 0.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Tuesday, December 19th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, December 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.11%. STMicroelectronics’s dividend payout ratio is currently 29.41%.
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STMicroelectronics Company Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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