STMicroelectronics (NYSE:STM) Shares Down 3.8%

Shares of STMicroelectronics (NYSE:STM) were down 3.8% during trading on Friday . The stock traded as low as $27.88 and last traded at $27.90. Approximately 521,744 shares traded hands during trading, a decline of 86% from the average daily volume of 3,796,318 shares. The stock had previously closed at $28.99.

Analyst Ratings Changes

Several analysts have recently commented on STM shares. The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and lifted their price target for the company from $35.50 to $45.80 in a research report on Tuesday, June 18th. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday. TD Cowen reduced their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Sanford C. Bernstein reduced their price target 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. Finally, Craig Hallum cut their target price on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, STMicroelectronics currently has a consensus rating of “Moderate Buy” and an average price target of $43.13.

STMicroelectronics Stock Down 4.7 %

The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $24.96 billion, a PE ratio of 7.16, a PEG ratio of 3.35 and a beta of 1.58. The firm’s fifty day moving average is $32.26 and its 200-day moving average is $38.84.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the company posted $1.06 earnings per share. The firm’s quarterly revenue was down 25.3% compared to the same quarter last year. On average, equities research analysts predict that STMicroelectronics will post 1.66 earnings per share for the current year.

STMicroelectronics Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.30%. STMicroelectronics’s dividend payout ratio is presently 7.69%.

Institutional Trading of STMicroelectronics

Several large investors have recently modified their holdings of the business. Van ECK Associates Corp grew its position 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 last quarter. Capital International Investors grew its position in shares of STMicroelectronics by 2.4% in the first quarter. Capital International Investors now owns 3,132,920 shares of the semiconductor producer’s stock valued at $135,467,000 after purchasing an additional 74,519 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of STMicroelectronics by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock valued at $118,772,000 after purchasing an additional 120,399 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 valued at $90,806,000 after purchasing an additional 1,478,213 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of STMicroelectronics by 8.7% in the fourth quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock valued at $80,991,000 after purchasing an additional 129,772 shares during the last quarter. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.