TD Cowen Downgrades STMicroelectronics (NYSE:STM) to Hold

TD Cowen lowered shares of STMicroelectronics (NYSE:STM - Free Report) from a buy rating to a hold rating in a research note published on Monday, Marketbeat Ratings reports. The firm currently has $25.00 price target on the semiconductor producer's stock, down from their prior price target of $32.00.

Other equities research analysts have also issued reports about the stock. Susquehanna reiterated a "positive" rating and set a $33.00 target price on shares of STMicroelectronics in a report on Thursday, November 21st. Robert W. Baird reduced their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Craig Hallum lowered their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, October 31st. BNP Paribas began coverage on shares of STMicroelectronics in a research note on Tuesday, December 3rd. They set a "neutral" rating and a $28.00 target price for the company. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of STMicroelectronics in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $34.11.

STMicroelectronics Price Performance

STM stock traded down $0.59 during midday trading on Monday, reaching $23.96. The stock had a trading volume of 6,172,479 shares, compared to its average volume of 6,606,296. The company has a market cap of $21.65 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 3.20 and a beta of 1.52. STMicroelectronics has a 52-week low of $23.66 and a 52-week high of $49.05. The company's fifty day simple moving average is $25.58 and its 200 day simple moving average is $29.60. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM - Get Free Report) last posted its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. The company had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The firm's quarterly revenue was down 26.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. As a group, sell-side analysts predict that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 annualized dividend and a yield of 1.50%. STMicroelectronics's dividend payout ratio is currently 14.81%.

Institutional Investors Weigh In On STMicroelectronics

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in STMicroelectronics by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 19,718 shares of the semiconductor producer's stock valued at $775,000 after purchasing an additional 1,275 shares during the period. American Century Companies Inc. raised its position in shares of STMicroelectronics by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 469,669 shares of the semiconductor producer's stock worth $18,449,000 after buying an additional 28,846 shares in the last quarter. Federated Hermes Inc. boosted its stake in STMicroelectronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer's stock valued at $25,469,000 after purchasing an additional 364,184 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of STMicroelectronics by 177.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer's stock valued at $90,806,000 after purchasing an additional 1,478,213 shares during the period. Finally, Wealth Alliance bought a new stake in shares of STMicroelectronics in the 2nd quarter worth $269,000. Institutional investors and hedge funds own 5.05% of the company's stock.

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.