STMicroelectronics (NYSE:STM) Receives Average Rating of “Moderate Buy” from Analysts

STMicroelectronics (NYSE:STM) has received an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $36.26.

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. StockNews.com downgraded STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Robert W. Baird decreased their price target on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Citigroup raised STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th.

STMicroelectronics Price Performance

Shares of STM opened at $25.87 on Wednesday. STMicroelectronics has a 52 week low of $23.95 and a 52 week high of $50.94. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The firm has a market cap of $23.37 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 3.20 and a beta of 1.53. The stock has a 50 day moving average of $26.56 and a 200-day moving average of $31.93.

STMicroelectronics (NYSE:STM) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The company’s revenue for the quarter was down 26.6% compared to the same quarter last year. As a group, analysts forecast that STMicroelectronics will post 1.64 EPS for the current year.

STMicroelectronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.39%. STMicroelectronics’s dividend payout ratio is 12.35%.

Hedge Funds Weigh In On STMicroelectronics

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its holdings in STMicroelectronics by 6.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 8,967 shares of the semiconductor producer’s stock worth $352,000 after buying an additional 564 shares during the last quarter. Private Advisory Group LLC acquired a new position in shares of STMicroelectronics during the 2nd quarter worth $5,341,000. Allspring Global Investments Holdings LLC raised its holdings in shares of STMicroelectronics by 49.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,908 shares of the semiconductor producer’s stock valued at $154,000 after purchasing an additional 1,293 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of STMicroelectronics by 10.4% in the 2nd quarter. Whittier Trust Co. now owns 8,819 shares of the semiconductor producer’s stock valued at $346,000 after purchasing an additional 831 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in STMicroelectronics by 144.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock worth $49,000 after purchasing an additional 734 shares in the last quarter. 5.05% of the stock is currently owned by hedge funds and other institutional investors.

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.