Russell Investments Group Ltd. Sells 54,983 Shares of STMicroelectronics NV (STM)

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Russell Investments Group Ltd. trimmed its holdings in STMicroelectronics NV (NYSE:STM) by 76.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,658 shares of the semiconductor producer’s stock after selling 54,983 shares during the period. Russell Investments Group Ltd.’s holdings in STMicroelectronics were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. First Trust Advisors LP purchased a new position in STMicroelectronics in the 3rd quarter valued at approximately $480,000. Bank of Montreal Can grew its stake in STMicroelectronics by 13.5% in the 3rd quarter. Bank of Montreal Can now owns 41,678 shares of the semiconductor producer’s stock valued at $764,000 after buying an additional 4,957 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in STMicroelectronics in the 3rd quarter valued at approximately $746,000. Bank of New York Mellon Corp grew its stake in STMicroelectronics by 6,533.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,246,613 shares of the semiconductor producer’s stock valued at $27,575,000 after buying an additional 1,227,821 shares in the last quarter. Finally, Cowen Inc. purchased a new position in STMicroelectronics in the 2nd quarter valued at approximately $553,000. Institutional investors and hedge funds own 3.73% of the company’s stock.

STM opened at $13.68 on Wednesday. The firm has a market cap of $12.27 billion, a PE ratio of 13.96, a PEG ratio of 1.97 and a beta of 1.07. The company has a quick ratio of 1.81, a current ratio of 2.54 and a debt-to-equity ratio of 0.27. STMicroelectronics NV has a one year low of $13.24 and a one year high of $26.43.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results on Wednesday, October 24th. The semiconductor producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. STMicroelectronics had a net margin of 12.41% and a return on equity of 21.97%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. Sell-side analysts forecast that STMicroelectronics NV will post 1.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Tuesday, December 18th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, December 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.75%. STMicroelectronics’s dividend payout ratio (DPR) is currently 20.41%.

A number of research firms recently weighed in on STM. Zacks Investment Research upgraded shares of STMicroelectronics from a “sell” rating to a “hold” rating in a research note on Saturday, October 27th. Credit Suisse Group reiterated a “buy” rating on shares of STMicroelectronics in a research note on Monday, November 19th. Baader Bank reiterated a “hold” rating on shares of STMicroelectronics in a research note on Wednesday, October 24th. Goldman Sachs Group reiterated a “hold” rating on shares of STMicroelectronics in a research note on Wednesday, November 7th. Finally, Robert W. Baird lowered shares of STMicroelectronics from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. STMicroelectronics has an average rating of “Hold” and a consensus target price of $23.48.

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STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, develops, manufactures, and markets semiconductor products worldwide. It operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments. The company offers a range of products, including discrete and standard commodity components, application-specific integrated circuits, full-custom and semi-custom devices, and application-specific standard products for analog, digital, and mixed-signal applications, as well as silicon chips and smartcards.

Further Reading: Earnings Reports

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Institutional Ownership by Quarter for STMicroelectronics (NYSE:STM)

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