STMicroelectronics (NYSE:STM) Downgraded to Hold Rating by TD Cowen

TD Cowen lowered shares of STMicroelectronics (NYSE:STM) from a buy rating to a hold rating in a report released on Monday, MarketBeat reports. They currently have $25.00 price target on the semiconductor producer’s stock, down from their previous price target of $32.00.

A number of other equities analysts have also recently issued reports on STM. BNP Paribas started coverage on STMicroelectronics in a report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price objective for the company. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Susquehanna reaffirmed a “positive” rating and issued a $33.00 price objective on shares of STMicroelectronics in a research note on Thursday, November 21st. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $34.11.

STMicroelectronics Stock Performance

NYSE STM opened at $23.96 on Monday. The company’s 50 day simple moving average is $25.58 and its two-hundred day simple moving average is $29.60. The stock has a market capitalization of $21.65 billion, a PE ratio of 9.86, a P/E/G ratio of 3.20 and a beta of 1.52. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16. STMicroelectronics has a 1 year low of $23.66 and a 1 year high of $49.05.

STMicroelectronics (NYSE:STM) 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 13.29% and a net margin of 16.11%. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s quarterly revenue was down 26.6% on a year-over-year basis. Analysts predict that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

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 paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 annualized dividend and a dividend yield of 1.50%. STMicroelectronics’s dividend payout ratio (DPR) is presently 14.81%.

Institutional Trading of STMicroelectronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp increased its position in STMicroelectronics by 0.7% during the 3rd quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock valued at $2,048,000 after purchasing an additional 493 shares during the period. GAMMA Investing LLC increased its position in shares of STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after buying an additional 531 shares during the period. Moran Wealth Management LLC raised its stake in STMicroelectronics by 0.9% in the third quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock worth $2,039,000 after buying an additional 634 shares in the last quarter. Ballentine Partners LLC lifted its holdings in STMicroelectronics by 7.7% in the third quarter. Ballentine Partners LLC now owns 10,278 shares of the semiconductor producer’s stock worth $306,000 after buying an additional 733 shares during the period. Finally, Legacy Wealth Asset Management LLC grew its holdings in shares of STMicroelectronics by 5.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 15,267 shares of the semiconductor producer’s stock worth $454,000 after acquiring an additional 736 shares during the period. Hedge funds and other institutional investors 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.