PFG Investments LLC Has $520,000 Stake in STMicroelectronics (NYSE:STM)

PFG Investments LLC raised its position in STMicroelectronics (NYSE:STM) by 91.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,026 shares of the semiconductor producer’s stock after acquiring an additional 5,732 shares during the quarter. PFG Investments LLC’s holdings in STMicroelectronics were worth $520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of STM. Van ECK Associates Corp lifted its position in shares of STMicroelectronics by 13.7% in the fourth quarter. Van ECK Associates Corp now owns 3,735,524 shares of the semiconductor producer’s stock valued at $187,262,000 after buying an additional 448,978 shares during the last quarter. Capital International Investors lifted its holdings in STMicroelectronics by 6.0% during the 4th quarter. Capital International Investors now owns 3,058,401 shares of the semiconductor producer’s stock valued at $153,593,000 after purchasing an additional 172,399 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in STMicroelectronics by 5.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after purchasing an additional 120,399 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of 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 valued at $96,212,000 after purchasing an additional 12,476 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of STMicroelectronics by 8.7% in the fourth quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock valued at $80,991,000 after purchasing an additional 129,772 shares during the period. Institutional investors own 5.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on STM shares. Susquehanna reiterated a “positive” rating and issued a $55.00 price target on shares of STMicroelectronics in a research note on Monday, April 8th. Craig Hallum lowered their target price on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Berenberg Bank upgraded STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. HSBC started coverage on STMicroelectronics in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday. Four equities research 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 stock has an average rating of “Moderate Buy” and a consensus price target of $50.75.

STMicroelectronics Price Performance

Shares of NYSE:STM traded down $0.16 during trading on Monday, reaching $41.17. 2,828,355 shares of the company traded hands, compared to its average volume of 3,641,104. The firm has a market capitalization of $37.17 billion, a PE ratio of 10.56, a PEG ratio of 3.01 and a beta of 1.69. STMicroelectronics has a 52 week low of $37.21 and a 52 week high of $55.85. The company has a quick ratio of 2.58, a current ratio of 3.34 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $43.67 and its two-hundred day moving average is $44.53.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data 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 return on equity of 22.95% and a net margin of 22.30%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the company earned $1.10 EPS. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. As a group, sell-side analysts predict that STMicroelectronics will post 2.74 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. 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 is Tuesday, June 25th. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. 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.