Sage Rhino Capital LLC Purchases Shares of 4,229 STMicroelectronics (NYSE:STM)

Sage Rhino Capital LLC acquired a new stake in shares of STMicroelectronics (NYSE:STM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,229 shares of the semiconductor producer’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CWM LLC boosted its stake in shares of STMicroelectronics by 28.8% during the third quarter. CWM LLC now owns 1,865 shares of the semiconductor producer’s stock valued at $80,000 after purchasing an additional 417 shares during the period. Simplicity Solutions LLC increased its holdings in STMicroelectronics by 8.4% in the 3rd quarter. Simplicity Solutions LLC now owns 4,717 shares of the semiconductor producer’s stock worth $204,000 after buying an additional 366 shares during the period. Commonwealth Equity Services LLC boosted its position in STMicroelectronics by 7.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 24,086 shares of the semiconductor producer’s stock worth $1,040,000 after purchasing an additional 1,639 shares in the last quarter. SVB Wealth LLC purchased a new stake in STMicroelectronics in the 3rd quarter worth approximately $254,000. Finally, Hexagon Capital Partners LLC boosted its position in STMicroelectronics by 53.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,192 shares of the semiconductor producer’s stock worth $51,000 after purchasing an additional 413 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Performance

NYSE:STM traded down $0.34 during midday trading on Wednesday, reaching $39.22. 238,968 shares of the company traded hands, compared to its average volume of 3,599,919. STMicroelectronics has a twelve month low of $37.21 and a twelve month high of $55.85. The firm has a market capitalization of $35.41 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 3.51 and a beta of 1.69. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 2.58. The company has a fifty day moving average price of $43.67 and a 200 day moving average price of $44.53.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the firm earned $1.10 EPS. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, analysts expect that STMicroelectronics will post 2.35 EPS for the current fiscal year.

STMicroelectronics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Tuesday, June 25th. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s payout ratio is currently 9.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. HSBC started coverage on STMicroelectronics in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday, April 26th. William Blair reiterated a “market perform” rating on shares of STMicroelectronics in a research note on Friday, April 26th. Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Finally, Craig Hallum lowered their price target on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, STMicroelectronics currently has an average rating of “Moderate Buy” and a consensus target price of $50.75.

STMicroelectronics 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.