Gallacher Capital Management LLC Has $446,000 Holdings in STMicroelectronics (NYSE:STM)

Gallacher Capital Management LLC increased its position in shares of STMicroelectronics (NYSE:STM) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,905 shares of the semiconductor producer’s stock after purchasing an additional 327 shares during the quarter. Gallacher Capital Management LLC’s holdings in STMicroelectronics were worth $446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of STM. Van ECK Associates Corp lifted its stake in shares of STMicroelectronics by 13.7% during the fourth quarter. Van ECK Associates Corp now owns 3,735,524 shares of the semiconductor producer’s stock valued at $187,262,000 after acquiring an additional 448,978 shares during the period. Qube Research & Technologies Ltd raised its holdings in shares of STMicroelectronics by 92.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 643,578 shares of the semiconductor producer’s stock valued at $27,777,000 after purchasing an additional 308,494 shares during the period. International Assets Investment Management LLC acquired a new position in STMicroelectronics during the fourth quarter worth approximately $11,500,000. QRG Capital Management Inc. bought a new stake in STMicroelectronics in the third quarter valued at approximately $5,884,000. Finally, FMR LLC raised its stake in STMicroelectronics by 27.9% in the 3rd quarter. FMR LLC now owns 589,282 shares of the semiconductor producer’s stock valued at $25,433,000 after acquiring an additional 128,707 shares during the period. 5.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. HSBC initiated coverage on STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating for the company. Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Susquehanna reiterated a “positive” rating and set a $55.00 price target 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. Finally, Craig Hallum reduced 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. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.75.

STMicroelectronics Price Performance

Shares of STM stock traded up $0.89 during trading hours on Friday, reaching $40.07. The stock had a trading volume of 2,717,908 shares, compared to its average volume of 3,646,359. The firm has a market capitalization of $36.17 billion, a PE ratio of 10.27, a PEG ratio of 3.76 and a beta of 1.66. STMicroelectronics has a 12 month low of $37.21 and a 12 month high of $55.85. The stock’s fifty day simple moving average is $43.23 and its 200 day simple moving average is $44.41. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM) last issued its 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). STMicroelectronics had a return on equity of 22.95% and a net margin of 22.30%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the prior year, the company earned $1.10 EPS. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. On average, equities research analysts predict that STMicroelectronics will post 2.13 EPS for the current year.

STMicroelectronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be paid a $0.09 dividend. This is an increase from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a 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.