STMicroelectronics (NYSE:STM) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

STMicroelectronics (NYSE:STM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $39.80.

Several equities analysts have recently weighed in on the stock. Morgan Stanley lowered shares of STMicroelectronics from an "overweight" rating to an "equal weight" rating in a research report on Friday, July 26th. Citigroup upgraded shares of STMicroelectronics to a "strong-buy" rating in a research report on Thursday, October 10th. Sanford C. Bernstein reduced their price objective on shares of STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating for the company in a research report on Tuesday, July 30th. Susquehanna reduced their price objective on shares of STMicroelectronics from $45.00 to $35.00 and set a "positive" rating for the company in a research note on Monday, October 21st. Finally, TD Cowen reduced their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, July 26th.

Institutional Trading of STMicroelectronics

A number of hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in STMicroelectronics by 41.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,026 shares of the semiconductor producer's stock worth $520,000 after buying an additional 3,542 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in STMicroelectronics in the first quarter worth approximately $113,000. Naviter Wealth LLC acquired a new position in STMicroelectronics in the first quarter worth approximately $349,000. Legacy Wealth Asset Management LLC acquired a new position in STMicroelectronics in the first quarter worth approximately $543,000. Finally, Commonwealth Equity Services LLC increased its holdings in STMicroelectronics by 6.1% in the first quarter. Commonwealth Equity Services LLC now owns 30,232 shares of the semiconductor producer's stock worth $1,307,000 after buying an additional 1,732 shares during the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Price Performance

Shares of NYSE:STM traded up $0.39 during trading hours on Tuesday, hitting $28.93. 4,968,510 shares of the company's stock traded hands, compared to its average volume of 3,890,424. STMicroelectronics has a 52 week low of $26.63 and a 52 week high of $51.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35. The company's fifty day simple moving average is $28.91 and its two-hundred day simple moving average is $35.60. The company has a market cap of $26.14 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 3.47 and a beta of 1.57.

STMicroelectronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics's dividend payout ratio (DPR) is 9.63%.

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.