Susquehanna Cuts STMicroelectronics (NYSE:STM) Price Target to $28.00

STMicroelectronics (NYSE:STM) had its price objective lowered by Susquehanna from $33.00 to $28.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a positive rating on the semiconductor producer’s stock.

STM has been the topic of a number of other research reports. Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 4th. TD Cowen downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating and cut their target price for the company from $32.00 to $25.00 in a research note on Monday, January 13th. Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Robert W. Baird lowered their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.40.

STMicroelectronics Stock Down 0.5 %

Shares of NYSE STM opened at $22.41 on Friday. STMicroelectronics has a 1 year low of $21.96 and a 1 year high of $49.05. The firm’s 50 day moving average price is $25.29 and its 200 day moving average price is $27.95. The firm has a market cap of $20.24 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 4.36 and a beta of 1.52. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.16 and a current ratio of 2.84.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. As a group, sell-side analysts anticipate that STMicroelectronics will post 1.64 earnings per share for the current year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s payout ratio is currently 12.76%.

Hedge Funds Weigh In On STMicroelectronics

Several large investors have recently bought and sold shares of STM. Stifel Financial Corp raised its position in shares of STMicroelectronics by 0.7% in the 3rd quarter. Stifel Financial Corp now owns 68,885 shares of the semiconductor producer’s stock valued at $2,048,000 after acquiring an additional 493 shares during the period. GAMMA Investing LLC raised its position in shares of STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock valued at $30,000 after acquiring an additional 531 shares during the period. Moran Wealth Management LLC raised its position in shares of STMicroelectronics by 0.9% in the 3rd quarter. Moran Wealth Management LLC now owns 68,573 shares of the semiconductor producer’s stock valued at $2,039,000 after acquiring an additional 634 shares during the period. Ballentine Partners LLC raised its position in shares of STMicroelectronics by 7.7% in the 3rd quarter. Ballentine Partners LLC now owns 10,278 shares of the semiconductor producer’s stock valued at $306,000 after acquiring an additional 733 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its position in shares of STMicroelectronics by 5.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 15,267 shares of the semiconductor producer’s stock valued at $454,000 after acquiring an additional 736 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.