STMicroelectronics (NYSE:STM) Price Target Lowered to $36.00 at Craig Hallum

STMicroelectronics (NYSE:STM - Free Report) had its price objective decreased by Craig Hallum from $42.00 to $36.00 in a research report released on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor producer's stock.

STM has been the subject of several other reports. StockNews.com lowered STMicroelectronics from a "buy" rating to a "hold" rating in a research note on Thursday, September 19th. TD Cowen reduced their price objective on STMicroelectronics from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, July 26th. Morgan Stanley lowered STMicroelectronics from an "overweight" rating to an "equal weight" rating in a report on Friday, July 26th. Citigroup upgraded STMicroelectronics to a "strong-buy" rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein reduced their target price on STMicroelectronics from $54.00 to $41.00 and set an "outperform" rating for the company in a report on Tuesday, July 30th. Five 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $38.80.

STMicroelectronics Price Performance

Shares of STM traded down $0.40 during trading hours on Thursday, hitting $27.15. 9,300,060 shares of the company were exchanged, compared to its average volume of 3,935,956. The company has a market capitalization of $24.53 billion, a PE ratio of 8.42, a PEG ratio of 3.47 and a beta of 1.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.35 and a quick ratio of 2.56. The firm has a fifty day simple moving average of $28.83 and a 200-day simple moving average of $35.54. STMicroelectronics has a one year low of $26.63 and a one year high of $51.27.

STMicroelectronics Announces Dividend

The company also recently disclosed 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 of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.33%. STMicroelectronics's dividend payout ratio is 9.32%.

Institutional Trading of STMicroelectronics

Hedge funds and other institutional investors have recently modified their holdings of the company. Waldron Private Wealth LLC acquired a new position in STMicroelectronics during the third quarter worth $34,000. Whittier Trust Co. of Nevada Inc. increased its position in STMicroelectronics by 144.2% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer's stock worth $49,000 after buying an additional 734 shares during the last quarter. Ridgewood Investments LLC acquired a new position in STMicroelectronics during the second quarter worth $51,000. Denver PWM LLC acquired a new position in STMicroelectronics during the second quarter worth $72,000. Finally, Cromwell Holdings LLC increased its position in STMicroelectronics by 68.1% during the third quarter. Cromwell Holdings LLC now owns 2,559 shares of the semiconductor producer's stock worth $76,000 after buying an additional 1,037 shares during the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

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.