Hexagon Capital Partners LLC Purchases 1,170 Shares of STMicroelectronics (NYSE:STM)

Hexagon Capital Partners LLC boosted its position in shares of STMicroelectronics (NYSE:STM) by 98.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,362 shares of the semiconductor producer’s stock after purchasing an additional 1,170 shares during the period. Hexagon Capital Partners LLC’s holdings in STMicroelectronics were worth $118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of STMicroelectronics by 11.2% in the fourth quarter. Blue Trust Inc. now owns 2,701 shares of the semiconductor producer’s stock valued at $135,000 after acquiring an additional 272 shares during the last quarter. Sage Rhino Capital LLC bought a new position in STMicroelectronics in the 4th quarter valued at $212,000. SG Americas Securities LLC acquired a new position in STMicroelectronics in the fourth quarter worth $2,141,000. FMR LLC grew its holdings in shares of STMicroelectronics by 27.9% during the third quarter. FMR LLC now owns 589,282 shares of the semiconductor producer’s stock worth $25,433,000 after purchasing an additional 128,707 shares during the last quarter. Finally, Modera Wealth Management LLC increased its stake in shares of STMicroelectronics by 5.7% in the third quarter. Modera Wealth Management LLC now owns 110,423 shares of the semiconductor producer’s stock valued at $4,766,000 after buying an additional 5,957 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

STMicroelectronics Stock Performance

STM stock opened at $38.75 on Thursday. The company has a quick ratio of 2.58, a current ratio of 3.34 and a debt-to-equity ratio of 0.17. STMicroelectronics has a twelve month low of $37.21 and a twelve month high of $55.85. The business’s fifty day moving average is $43.57 and its 200-day moving average is $44.50. The company has a market cap of $34.98 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 3.71 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 (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.05). The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.61 billion. STMicroelectronics had a return on equity of 22.95% and a net margin of 22.30%. STMicroelectronics’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Equities research analysts forecast that STMicroelectronics will post 2.13 EPS for the current year.

STMicroelectronics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be issued a $0.09 dividend. 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 yield of 0.93%. STMicroelectronics’s dividend payout ratio (DPR) is 5.13%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on STM. Susquehanna reiterated a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Berenberg Bank raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. William Blair restated a “market perform” rating on shares of STMicroelectronics in a research report on Friday, April 26th. Finally, Craig Hallum lowered their target price on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.75.

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.