37,415 Shares in STMicroelectronics (NYSE:STM) Purchased by Washington Capital Management Inc.

Washington Capital Management Inc. purchased a new position in STMicroelectronics (NYSE:STM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 37,415 shares of the semiconductor producer’s stock, valued at approximately $1,112,000. STMicroelectronics makes up 0.9% of Washington Capital Management Inc.’s portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in STMicroelectronics by 11.6% in the second quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer’s stock worth $254,388,000 after purchasing an additional 675,353 shares during the last quarter. Capital International Investors lifted its stake in STMicroelectronics by 2.4% in the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock worth $135,467,000 after purchasing an additional 74,519 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after purchasing an additional 1,478,213 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in STMicroelectronics by 0.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer’s stock worth $61,443,000 after purchasing an additional 7,732 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in STMicroelectronics by 1,564,831.9% in the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock worth $46,690,000 after purchasing an additional 1,079,734 shares during the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Down 5.0 %

STM stock traded down $1.43 during trading on Tuesday, hitting $26.90. 4,165,745 shares of the company’s stock traded hands, compared to its average volume of 3,837,807. The firm has a market capitalization of $24.30 billion, a P/E ratio of 7.26, a PEG ratio of 3.43 and a beta of 1.57. The business has a fifty day simple moving average of $29.35 and a two-hundred day simple moving average of $36.73. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. STMicroelectronics has a 1 year low of $26.90 and a 1 year high of $51.27.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the company posted $1.06 earnings per share. STMicroelectronics’s revenue was down 25.3% compared to the same quarter last year. Sell-side analysts anticipate that STMicroelectronics will post 1.63 EPS for the current year.

STMicroelectronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is currently 7.69%.

Analysts Set New Price Targets

Several analysts have issued reports on STM shares. Craig Hallum decreased their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. TD Cowen decreased their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Morgan Stanley downgraded shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.13.

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.