Wealth Alliance Purchases 405 Shares of STMicroelectronics (NYSE:STM)

Wealth Alliance lifted its position in shares of STMicroelectronics (NYSE:STM) by 6.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,471 shares of the semiconductor producer’s stock after acquiring an additional 405 shares during the quarter. Wealth Alliance’s holdings in STMicroelectronics were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thomas J. Herzfeld Advisors Inc. boosted its holdings in STMicroelectronics by 548.4% in the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock worth $25,000 after buying an additional 499 shares during the period. Huntington National Bank boosted its holdings in shares of STMicroelectronics by 112.7% in the third quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock worth $30,000 after acquiring an additional 365 shares during the period. Headlands Technologies LLC purchased a new position in shares of STMicroelectronics in the third quarter valued at $30,000. Spire Wealth Management lifted its holdings in STMicroelectronics by 125.0% during the 3rd quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock worth $31,000 after purchasing an additional 400 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in STMicroelectronics in the 4th quarter worth about $40,000. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $39.59 on Friday. The company’s fifty day moving average price is $44.31 and its 200-day moving average price is $44.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.17 and a quick ratio of 2.44. The firm has a market capitalization of $35.74 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 2.67 and a beta of 1.69. STMicroelectronics has a one year low of $37.21 and a one year high of $55.85.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that STMicroelectronics will post 3.02 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The company 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 $0.09 dividend. This is an increase 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 dividend on an annualized basis and a yield of 0.91%. STMicroelectronics’s payout ratio is presently 4.48%.

Analysts Set New Price Targets

STM has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of STMicroelectronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. Susquehanna reissued a “positive” rating and issued a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th. Craig Hallum decreased their price target on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Finally, HSBC initiated coverage on STMicroelectronics in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.75.

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.