Keynote Financial Services LLC Purchases 1,370 Shares of STMicroelectronics (NYSE:STM)

Keynote Financial Services LLC boosted its position in shares of STMicroelectronics (NYSE:STM) by 8.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,860 shares of the semiconductor producer’s stock after purchasing an additional 1,370 shares during the quarter. Keynote Financial Services LLC’s holdings in STMicroelectronics were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of STMicroelectronics by 41.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,026 shares of the semiconductor producer’s stock worth $520,000 after purchasing an additional 3,542 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of STMicroelectronics in the 1st quarter valued at approximately $113,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in STMicroelectronics in the 1st quarter worth approximately $554,000. Janney Montgomery Scott LLC boosted its stake in STMicroelectronics by 19.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 44,906 shares of the semiconductor producer’s stock worth $1,942,000 after purchasing an additional 7,168 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in STMicroelectronics by 27.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,403 shares of the semiconductor producer’s stock valued at $363,000 after purchasing an additional 1,802 shares in the last quarter. 5.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on STM shares. Craig Hallum lowered their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Robert W. Baird reduced their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen cut their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.63.

STMicroelectronics Stock Performance

Shares of NYSE STM opened at $27.14 on Friday. The company has a market capitalization of $24.52 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 3.16 and a beta of 1.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84. The company’s fifty day moving average price is $28.30 and its 200 day moving average price is $35.02. STMicroelectronics has a 1 year low of $25.95 and a 1 year high of $51.27.

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. The firm 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 company’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. On average, research analysts predict that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s payout ratio is 12.35%.

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.