STMicroelectronics (NYSE:STM) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of STMicroelectronics (NYSE:STM) from a buy rating to a hold rating in a research note released on Friday morning.

A number of other brokerages have also issued reports on STM. HSBC started coverage on shares of STMicroelectronics in a research report on Thursday, February 22nd. They set a buy rating on the stock. Susquehanna reiterated a positive rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. William Blair reiterated a market perform rating on shares of STMicroelectronics in a research report on Friday. Berenberg Bank upgraded shares of STMicroelectronics from a hold rating to a buy rating in a research report on Tuesday. Finally, Craig Hallum reduced their price target on shares of STMicroelectronics from $50.00 to $48.00 and set a buy rating on the stock in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $50.75.

STMicroelectronics Stock Performance

Shares of NYSE:STM opened at $41.34 on Friday. The company’s 50 day moving average price is $43.75 and its two-hundred day moving average price is $44.56. STMicroelectronics has a 12-month low of $37.21 and a 12-month high of $55.85. The firm has a market cap of $37.32 billion, a PE ratio of 10.60, a PEG ratio of 2.85 and a beta of 1.69. The company has a quick ratio of 2.44, a current ratio of 3.17 and a debt-to-equity ratio of 0.16.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). STMicroelectronics had a return on equity of 23.52% and a net margin of 22.30%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the company earned $1.10 EPS. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. Equities research analysts predict that STMicroelectronics will post 2.99 earnings per share for the current year.

STMicroelectronics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be given a $0.09 dividend. The ex-dividend date is Tuesday, June 25th. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s dividend payout ratio (DPR) is currently 5.13%.

Institutional Trading of STMicroelectronics

Hedge funds have recently added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. boosted its position in STMicroelectronics by 548.4% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 590 shares of the semiconductor producer’s stock valued at $25,000 after buying an additional 499 shares in the last quarter. Mather Group LLC. acquired a new stake in STMicroelectronics in the first quarter valued at approximately $28,000. Huntington National Bank boosted its position in STMicroelectronics by 112.7% in the third quarter. Huntington National Bank now owns 689 shares of the semiconductor producer’s stock valued at $30,000 after buying an additional 365 shares in the last quarter. Headlands Technologies LLC acquired a new stake in STMicroelectronics in the third quarter valued at approximately $30,000. Finally, Spire Wealth Management raised its stake in shares of STMicroelectronics by 125.0% during the third quarter. Spire Wealth Management now owns 720 shares of the semiconductor producer’s stock valued at $31,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds 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.