Delta Investment Management LLC Buys New Shares in STMicroelectronics (NYSE:STM)

Delta Investment Management LLC purchased a new stake in STMicroelectronics (NYSE:STM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,097 shares of the semiconductor producer’s stock, valued at approximately $256,000.

Several other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC lifted its position in shares of STMicroelectronics by 74.9% in the 4th quarter. Headlands Technologies LLC now owns 1,221 shares of the semiconductor producer’s stock valued at $61,000 after acquiring an additional 523 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of STMicroelectronics during the 4th quarter valued at $48,000. PDS Planning Inc bought a new position in shares of STMicroelectronics during the 4th quarter valued at $206,000. Signaturefd LLC raised its holdings in shares of STMicroelectronics by 5.1% during the 4th quarter. Signaturefd LLC now owns 21,243 shares of the semiconductor producer’s stock valued at $1,065,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of STMicroelectronics by 19.1% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 178,126 shares of the semiconductor producer’s stock valued at $8,929,000 after purchasing an additional 28,600 shares in the last quarter. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Performance

NYSE STM traded down $1.27 during midday trading on Friday, hitting $41.33. The company had a trading volume of 3,776,167 shares, compared to its average volume of 3,426,394. The company has a quick ratio of 2.44, a current ratio of 3.17 and a debt-to-equity ratio of 0.16. The stock has a market cap of $37.31 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 2.85 and a beta of 1.69. The firm has a fifty day simple moving average of $43.75 and a two-hundred day simple moving average of $44.56. STMicroelectronics has a fifty-two week low of $37.21 and a fifty-two week high of $55.85.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.05). The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.61 billion. STMicroelectronics had a return on equity of 23.52% and a net margin of 22.30%. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. Equities analysts forecast that STMicroelectronics will post 2.99 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.87%. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 25th. STMicroelectronics’s dividend payout ratio (DPR) is currently 5.13%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STM. Craig Hallum cut their price target on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. HSBC began coverage on shares of STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Susquehanna restated a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th. William Blair restated a “market perform” rating on shares of STMicroelectronics in a report on Friday. Finally, StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.75.

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.