Susquehanna Lowers STMicroelectronics (NYSE:STM) Price Target to $33.00

STMicroelectronics (NYSE:STM - Free Report) had its price objective cut by Susquehanna from $35.00 to $33.00 in a report published on Friday morning, Benzinga reports. They currently have a positive rating on the semiconductor producer's stock.

Several other brokerages also recently weighed in on STM. TD Cowen cut their target price on shares of STMicroelectronics from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, July 26th. Craig Hallum lowered their target price on STMicroelectronics from $42.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday. 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 research note on Tuesday, July 30th. Citigroup upgraded shares of STMicroelectronics to a "strong-buy" rating in a research note on Thursday, October 10th. Finally, StockNews.com downgraded shares of STMicroelectronics from a "buy" rating to a "hold" rating in a research report on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, STMicroelectronics has an average rating of "Moderate Buy" and an average target price of $37.63.

STMicroelectronics Trading Down 1.7 %

STMicroelectronics stock traded down $0.47 during trading on Friday, hitting $26.67. The company had a trading volume of 6,810,497 shares, compared to its average volume of 3,951,737. The stock has a market cap of $24.09 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 3.39 and a beta of 1.57. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. STMicroelectronics has a 1-year low of $26.44 and a 1-year high of $51.27. The company's 50 day simple moving average is $28.76 and its 200-day simple moving average is $35.49.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the business earned $1.16 EPS. The company's quarterly revenue was down 26.6% compared to the same quarter last year. As a group, analysts expect that STMicroelectronics will post 1.63 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be paid 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 yield of 1.35%. STMicroelectronics's dividend payout ratio is currently 9.63%.

Hedge Funds Weigh In On STMicroelectronics

Large investors have recently bought and sold shares of the stock. Orion Portfolio Solutions LLC grew its position in shares of STMicroelectronics by 374.5% during the first quarter. Orion Portfolio Solutions LLC now owns 38,010 shares of the semiconductor producer's stock worth $1,644,000 after acquiring an additional 29,999 shares during the last quarter. Washington Capital Management Inc. purchased a new position in STMicroelectronics during the 3rd quarter worth $1,112,000. Jane Street Group LLC increased its stake in STMicroelectronics by 153.8% in the first quarter. Jane Street Group LLC now owns 178,483 shares of the semiconductor producer's stock valued at $7,718,000 after purchasing an additional 108,152 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of STMicroelectronics in the first quarter valued at about $554,000. Finally, Lazard Asset Management LLC boosted its stake in shares of STMicroelectronics by 1,564,831.9% during the first quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer's stock worth $46,690,000 after buying an additional 1,079,734 shares during the period. 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.