STMicroelectronics (NYSE:STM) Price Target Lowered to $35.00 at Susquehanna

STMicroelectronics (NYSE:STM - Free Report) had its target price reduced by Susquehanna from $45.00 to $35.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a positive rating on the semiconductor producer's stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley cut STMicroelectronics from an "overweight" rating to an "equal weight" rating in a report on Friday, July 26th. Sanford C. Bernstein decreased their price objective on STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating for the company in a report on Tuesday, July 30th. StockNews.com cut STMicroelectronics from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. Citigroup raised STMicroelectronics to a "strong-buy" rating in a research report on Thursday, October 10th. Finally, TD Cowen lowered their price objective on shares of STMicroelectronics from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.80.

STMicroelectronics Stock Down 2.0 %

Shares of NYSE STM traded down $0.56 during mid-day trading on Monday, reaching $27.43. 3,426,239 shares of the company's stock were exchanged, compared to its average volume of 3,853,720. STMicroelectronics has a twelve month low of $26.63 and a twelve month high of $51.27. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $24.78 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 3.44 and a beta of 1.57. The business has a fifty day simple moving average of $29.23 and a 200 day simple moving average of $36.30.

STMicroelectronics (NYSE:STM - Get Free Report) last announced its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.55 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The business's quarterly revenue was down 25.3% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. As a group, equities analysts expect that STMicroelectronics will post 1.63 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.31%. STMicroelectronics's payout ratio is 9.63%.

Institutional Trading of STMicroelectronics

A number of large investors have recently added to or reduced their stakes in STM. Fisher Asset Management LLC raised its holdings in shares of STMicroelectronics by 37.8% in the 4th quarter. Fisher Asset Management LLC now owns 9,131 shares of the semiconductor producer's stock valued at $458,000 after purchasing an additional 2,505 shares during the period. Mather Group LLC. bought a new stake in STMicroelectronics in the first quarter valued at approximately $28,000. Ballentine Partners LLC lifted its position in shares of STMicroelectronics by 14.1% in the first quarter. Ballentine Partners LLC now owns 10,536 shares of the semiconductor producer's stock valued at $456,000 after buying an additional 1,298 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its stake in shares of STMicroelectronics by 8.2% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 4,822 shares of the semiconductor producer's stock worth $209,000 after acquiring an additional 365 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of STMicroelectronics by 41.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,026 shares of the semiconductor producer's stock worth $520,000 after acquiring an additional 3,542 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.

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.