Henry James International Management Inc. Cuts Position in STMicroelectronics (NYSE:STM)

Henry James International Management Inc. trimmed its position in shares of STMicroelectronics (NYSE:STM) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 125,783 shares of the semiconductor producer’s stock after selling 6,501 shares during the quarter. STMicroelectronics makes up approximately 2.4% of Henry James International Management Inc.’s portfolio, making the stock its 11th biggest holding. Henry James International Management Inc.’s holdings in STMicroelectronics were worth $6,306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vestmark Advisory Solutions Inc. grew its holdings in shares of STMicroelectronics by 6.4% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,166 shares of the semiconductor producer’s stock valued at $961,000 after purchasing an additional 1,161 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of STMicroelectronics in the fourth quarter worth $262,000. Natixis Advisors L.P. raised its stake in shares of STMicroelectronics by 9.0% in the fourth quarter. Natixis Advisors L.P. now owns 141,674 shares of the semiconductor producer’s stock valued at $7,102,000 after acquiring an additional 11,739 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of STMicroelectronics by 17.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 20,747 shares of the semiconductor producer’s stock valued at $1,040,000 after acquiring an additional 3,019 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in STMicroelectronics by 98.2% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,362 shares of the semiconductor producer’s stock valued at $118,000 after purchasing an additional 1,170 shares during the period. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on STM shares. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Susquehanna reaffirmed a “positive” rating and issued a $55.00 target price on shares of STMicroelectronics in a report on Monday, April 8th. William Blair reiterated a “market perform” rating on shares of STMicroelectronics in a report on Friday, April 26th. HSBC initiated coverage on shares of STMicroelectronics in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. Finally, Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, STMicroelectronics presently has an average rating of “Moderate Buy” and an average price target of $50.75.

STMicroelectronics Stock Up 2.3 %

Shares of STMicroelectronics stock traded up $0.89 during trading hours on Friday, hitting $40.07. The company had a trading volume of 2,717,908 shares, compared to its average volume of 3,646,359. The company’s 50-day moving average is $43.23 and its two-hundred day moving average is $44.41. STMicroelectronics has a twelve month low of $37.21 and a twelve month high of $55.85. 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 market cap of $36.17 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 3.76 and a beta of 1.66.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.05). The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.61 billion. STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 earnings per share. Analysts anticipate that STMicroelectronics will post 2.13 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be issued a $0.09 dividend. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Tuesday, June 25th. STMicroelectronics’s dividend payout ratio is presently 5.13%.

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.