Saturna Capital Corp Trims Holdings in STMicroelectronics (NYSE:STM)

Saturna Capital Corp trimmed its position in STMicroelectronics (NYSE:STM) by 89.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,335 shares of the semiconductor producer’s stock after selling 91,700 shares during the period. Saturna Capital Corp’s holdings in STMicroelectronics were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC purchased a new position in shares of STMicroelectronics during the 3rd quarter worth about $34,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of STMicroelectronics by 144.2% during the 2nd 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. Ridgewood Investments LLC purchased a new position in shares of STMicroelectronics during the 2nd quarter worth about $51,000. Tompkins Financial Corp purchased a new position in shares of STMicroelectronics during the 3rd quarter worth about $59,000. Finally, Covestor Ltd purchased a new position in shares of STMicroelectronics during the 3rd quarter worth about $62,000. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

STMicroelectronics Trading Down 3.6 %

Shares of STM opened at $26.18 on Wednesday. The business’s 50-day moving average price is $28.04 and its 200 day moving average price is $34.64. The stock has a market capitalization of $23.65 billion, a P/E ratio of 11.17, a P/E/G ratio of 3.27 and a beta of 1.57. STMicroelectronics has a 1-year low of $25.95 and a 1-year high of $51.27. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping 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%. STMicroelectronics’s revenue was down 26.6% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. Analysts expect that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.38%. STMicroelectronics’s dividend payout ratio is currently 12.76%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on STM shares. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. 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 report on Friday, July 26th. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Robert W. Baird cut their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.63.

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.