Craig Hallum Issues Pessimistic Forecast for STMicroelectronics (NYSE:STM) Stock Price

STMicroelectronics (NYSE:STM) had its target price reduced by Craig Hallum from $42.00 to $36.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the semiconductor producer’s stock.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley downgraded STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Sanford C. Bernstein decreased their target price on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. StockNews.com lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen lowered their target price on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.63.

STMicroelectronics Trading Down 1.7 %

Shares of NYSE:STM opened at $26.67 on Thursday. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 3.36 and a beta of 1.58. STMicroelectronics has a 12 month low of $26.44 and a 12 month high of $51.27. The company’s fifty day simple moving average is $28.67 and its 200 day simple moving average is $35.35. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM) last released its quarterly earnings results 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. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a return on equity of 13.44% and a net margin of 16.11%. The company’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. As a group, research analysts forecast that STMicroelectronics will post 1.62 EPS for the current fiscal year.

STMicroelectronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s payout ratio is 12.35%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STM. Waldron Private Wealth LLC bought a new stake in STMicroelectronics in the third quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of STMicroelectronics by 144.2% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after acquiring an additional 734 shares during the period. Ridgewood Investments LLC purchased a new stake in STMicroelectronics in the second quarter worth $51,000. Denver PWM LLC bought a new stake in STMicroelectronics in the 2nd quarter valued at about $72,000. Finally, Tompkins Financial Corp bought a new stake in shares of STMicroelectronics in the third quarter valued at approximately $59,000. 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.