STMicroelectronics (NYSE:STM) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its holdings in shares of STMicroelectronics (NYSE:STM) by 27.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,865 shares of the semiconductor producer’s stock after selling 15,292 shares during the quarter. Sanctuary Advisors LLC’s holdings in STMicroelectronics were worth $1,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Truvestments Capital LLC acquired a new stake in shares of STMicroelectronics during the third quarter worth approximately $25,000. Archer Investment Corp acquired a new position in STMicroelectronics during the 3rd quarter worth $30,000. Waldron Private Wealth LLC bought a new stake in shares of STMicroelectronics in the 3rd quarter worth about $34,000. TD Private Client Wealth LLC raised its stake in shares of STMicroelectronics by 108.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock valued at $46,000 after purchasing an additional 809 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of STMicroelectronics by 144.2% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 734 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Stock Performance

Shares of STM stock opened at $24.61 on Friday. The company has a market capitalization of $22.23 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 3.20 and a beta of 1.53. STMicroelectronics has a 1-year low of $23.95 and a 1-year high of $50.94. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $26.36 and its 200-day simple moving average is $31.71.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.04. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The business’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. On average, sell-side analysts predict that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio (DPR) is currently 14.81%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on STM. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Morgan Stanley cut shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Susquehanna reissued a “positive” rating and set a $33.00 target price on shares of STMicroelectronics in a report on Thursday, November 21st. Finally, BNP Paribas initiated coverage on shares of STMicroelectronics in a research report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.26.

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.