Orion Portfolio Solutions LLC Reduces Stock Position in STMicroelectronics (NYSE:STM)

Orion Portfolio Solutions LLC decreased its holdings in STMicroelectronics (NYSE:STM) by 79.4% during the third quarter, HoldingsChannel.com reports. The firm owned 7,809 shares of the semiconductor producer’s stock after selling 30,044 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in STMicroelectronics were worth $232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of STMicroelectronics in the third quarter worth about $25,000. Archer Investment Corp purchased a new stake in STMicroelectronics in the 3rd quarter valued at about $30,000. Waldron Private Wealth LLC bought a new position in STMicroelectronics in the 3rd quarter worth about $34,000. Whittier Trust Co. of Nevada Inc. increased 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 acquiring an additional 734 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of STMicroelectronics during the second quarter valued at approximately $51,000. 5.05% of the stock is currently owned by institutional investors.

STMicroelectronics Stock Performance

STM stock opened at $24.48 on Friday. The firm has a 50-day simple moving average of $26.43 and a two-hundred day simple moving average of $31.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. STMicroelectronics has a one year low of $23.95 and a one year high of $50.94. The firm has a market cap of $22.12 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 3.20 and a beta of 1.53.

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

STMicroelectronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 annualized dividend and a yield of 1.47%. STMicroelectronics’s dividend payout ratio (DPR) is 12.35%.

Analyst Ratings Changes

Several research analysts recently issued reports on STM shares. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Susquehanna restated a “positive” rating and issued a $33.00 price objective on shares of STMicroelectronics in a report on Thursday, November 21st. BNP Paribas started coverage on shares of STMicroelectronics in a research note on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.26.

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.