Van ECK Associates Corp Has $187.26 Million Stock Position in STMicroelectronics (NYSE:STM)

Van ECK Associates Corp lifted its position in shares of STMicroelectronics (NYSE:STM) by 13.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,735,524 shares of the semiconductor producer’s stock after buying an additional 448,978 shares during the quarter. Van ECK Associates Corp’s holdings in STMicroelectronics were worth $187,262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC increased its position in shares of STMicroelectronics by 28.8% in the third quarter. CWM LLC now owns 1,865 shares of the semiconductor producer’s stock worth $80,000 after purchasing an additional 417 shares during the period. Simplicity Solutions LLC increased its position in shares of STMicroelectronics by 8.4% in the third quarter. Simplicity Solutions LLC now owns 4,717 shares of the semiconductor producer’s stock worth $204,000 after purchasing an additional 366 shares during the period. Commonwealth Equity Services LLC increased its position in shares of STMicroelectronics by 7.3% in the third 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 during the period. SVB Wealth LLC bought a new position in shares of STMicroelectronics in the third quarter worth $254,000. Finally, Hexagon Capital Partners LLC increased its position in shares of STMicroelectronics by 53.0% in the third 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 during the period. Institutional investors and hedge funds own 5.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

STMicroelectronics Stock Down 0.4 %

Shares of STM traded down $0.16 during trading hours on Monday, reaching $41.17. The stock had a trading volume of 2,828,355 shares, compared to its average volume of 3,641,104. STMicroelectronics has a 12 month low of $37.21 and a 12 month high of $55.85. The firm has a 50-day simple moving average of $43.67 and a 200 day simple moving average of $44.53. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $37.17 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 3.01 and a beta of 1.69.

STMicroelectronics (NYSE:STM) last released its quarterly 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). The company 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 company’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. Equities research analysts predict that STMicroelectronics will post 2.74 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

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

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.