Citigroup upgraded shares of STMicroelectronics (NYSE:STM - Free Report) to a strong-buy rating in a research note published on Thursday morning, Zacks.com reports.
A number of other brokerages have also issued reports on STM. Sanford C. Bernstein decreased their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an outperform rating on the stock in a research report on Tuesday, July 30th. Craig Hallum lowered their price objective on STMicroelectronics from $48.00 to $42.00 and set a buy rating for the company in a research report on Thursday, July 25th. Morgan Stanley downgraded STMicroelectronics from an overweight rating to an equal weight rating in a research report on Friday, July 26th. StockNews.com cut STMicroelectronics from a buy rating to a hold rating in a report on Thursday, September 19th. Finally, The Goldman Sachs Group upgraded shares of STMicroelectronics from a sell rating to a neutral rating and increased their price objective for the stock from $35.50 to $45.80 in a report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $43.13.
Read Our Latest Report on STMicroelectronics
STMicroelectronics Price Performance
NYSE:STM remained flat at $27.94 during trading hours on Thursday. The company's stock had a trading volume of 2,583,375 shares, compared to its average volume of 3,840,429. 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 firm's fifty day simple moving average is $29.38 and its 200-day simple moving average is $36.93. The stock has a market capitalization of $25.24 billion, a PE ratio of 8.68, a P/E/G ratio of 3.46 and a beta of 1.57. STMicroelectronics has a 52-week low of $27.44 and a 52-week high of $51.27.
STMicroelectronics (NYSE:STM - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The semiconductor producer reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.04. STMicroelectronics had a return on equity of 18.18% and a net margin of 19.68%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the company earned $1.06 earnings per share. The business's revenue for the quarter was down 25.3% compared to the same quarter last year. As a group, research analysts predict that STMicroelectronics will post 1.63 earnings per share for the current year.
STMicroelectronics Dividend Announcement
The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics's payout ratio is currently 9.63%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of STM. Van ECK Associates Corp boosted its stake in shares of STMicroelectronics by 11.6% in the second quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer's stock valued at $254,388,000 after purchasing an additional 675,353 shares during the period. Capital International Investors grew its stake in shares of STMicroelectronics by 2.4% during the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer's stock valued at $135,467,000 after acquiring an additional 74,519 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of STMicroelectronics by 5.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer's stock worth $118,772,000 after acquiring an additional 120,399 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of STMicroelectronics by 177.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer's stock worth $90,806,000 after acquiring an additional 1,478,213 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in STMicroelectronics by 0.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,564,232 shares of the semiconductor producer's stock valued at $61,443,000 after purchasing an additional 7,732 shares during the last quarter. Institutional investors and hedge funds own 5.05% of the company's stock.
STMicroelectronics Company Profile
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Get Free Report)
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.
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