Waterfront Wealth Inc. Makes New Investment in STMicroelectronics (NYSE:STM)

Waterfront Wealth Inc. purchased a new stake in shares of STMicroelectronics (NYSE:STM) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 38,888 shares of the semiconductor producer’s stock, valued at approximately $971,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in STMicroelectronics during the third quarter valued at approximately $25,000. Archer Investment Corp bought a new position in STMicroelectronics in the 3rd quarter valued at $30,000. GAMMA Investing LLC grew its position in shares of STMicroelectronics by 81.4% during the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after purchasing an additional 531 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of STMicroelectronics in the fourth quarter worth $31,000. Finally, Waldron Private Wealth LLC purchased a new stake in shares of STMicroelectronics in the third quarter worth $34,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Stock Down 2.3 %

Shares of NYSE STM opened at $27.58 on Friday. The firm’s fifty day moving average is $24.70 and its 200 day moving average is $26.85. STMicroelectronics has a 52 week low of $21.36 and a 52 week high of $49.05. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. The company has a market cap of $24.91 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.13 and a beta of 1.51.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. On average, equities research analysts expect that STMicroelectronics will post 0.82 earnings per share for the current year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s payout ratio is 21.69%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STM. BNP Paribas started coverage on STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price target for the company. TD Cowen cut shares of STMicroelectronics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $32.00 to $25.00 in a research report on Monday, January 13th. Jefferies Financial Group raised STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays lowered STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird cut their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.26.

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.