Commerce Bank Sells 4,182 Shares of STMicroelectronics N.V. (STM)
Commerce Bank decreased its position in shares of STMicroelectronics N.V. (NYSE:STM) by 27.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,303 shares of the semiconductor producer’s stock after selling 4,182 shares during the quarter. Commerce Bank’s holdings in STMicroelectronics N.V. were worth $163,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in shares of STMicroelectronics N.V. by 362.4% during the 1st quarter. Renaissance Technologies LLC now owns 5,299,919 shares of the semiconductor producer’s stock worth $81,713,000 after buying an additional 4,153,795 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of STMicroelectronics N.V. by 21.4% during the 2nd quarter. Acadian Asset Management LLC now owns 4,624,153 shares of the semiconductor producer’s stock worth $66,495,000 after buying an additional 816,194 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of STMicroelectronics N.V. during the 1st quarter worth $23,004,000. FMR LLC bought a new position in shares of STMicroelectronics N.V. during the 1st quarter worth $21,932,000. Finally, Parametric Portfolio Associates LLC grew its position in shares of STMicroelectronics N.V. by 13.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 732,394 shares of the semiconductor producer’s stock worth $11,323,000 after buying an additional 84,886 shares in the last quarter. 5.29% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on STM. Zacks Investment Research downgraded STMicroelectronics N.V. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub raised STMicroelectronics N.V. from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. J P Morgan Chase & Co raised STMicroelectronics N.V. from a “neutral” rating to an “overweight” rating in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus raised STMicroelectronics N.V. from a “hold” rating to a “buy” rating and dropped their price target for the stock from $14.84 to $14.50 in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $18.38.
Shares of STMicroelectronics N.V. (NYSE STM) opened at 18.74 on Thursday. The company’s 50 day moving average price is $17.22 and its 200-day moving average price is $16.07. The stock has a market capitalization of $16.64 billion, a PE ratio of 38.32 and a beta of 0.64. STMicroelectronics N.V. has a 52 week low of $7.56 and a 52 week high of $19.22.
STMicroelectronics N.V. (NYSE:STM) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor producer reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). STMicroelectronics N.V. had a net margin of 5.97% and a return on equity of 10.60%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts predict that STMicroelectronics N.V. will post $0.82 EPS for the current year.
STMicroelectronics N.V. announced that its Board of Directors has authorized a share buyback plan on Thursday, June 22nd that permits the company to repurchase $297.00 million in shares. This repurchase authorization permits the semiconductor producer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Tuesday, September 19th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.28%. STMicroelectronics N.V.’s payout ratio is presently 40.00%.
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STMicroelectronics N.V. Profile
STMicroelectronics N.V. is a global semiconductor company that designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications. The Company’s segments include Automotive and Discrete Group (ADG), Analog and MEMS Group (AMG), Microcontrollers and Digital ICs Group (MDG), and Others.
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