STMicroelectronics (NYSE:STM – Get Rating) had its target price increased by Cowen from $44.00 to $50.00 in a report published on Friday morning, Stock Target Advisor reports.
STM has been the topic of a number of other reports. Barclays cut shares of STMicroelectronics from an overweight rating to an equal weight rating in a report on Tuesday, April 12th. Cowen raised their price target on shares of STMicroelectronics from $44.00 to $50.00 in a research note on Friday. UBS Group reduced their price target on shares of STMicroelectronics from €44.00 ($45.36) to €38.00 ($39.18) and set a neutral rating for the company in a report on Thursday, April 28th. Craig Hallum reduced their price objective on shares of STMicroelectronics from $65.00 to $55.00 in a report on Wednesday, April 27th. Finally, StockNews.com began coverage on shares of STMicroelectronics in a research report on Thursday, March 31st. They set a strong-buy rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $52.13.
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STMicroelectronics Stock Performance
NYSE:STM opened at $38.24 on Friday. The company has a current ratio of 2.60, a quick ratio of 1.90 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $34.73 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 2.28 and a beta of 1.54. The firm has a 50 day moving average of $34.94 and a 200-day moving average of $39.07. STMicroelectronics has a 1 year low of $28.35 and a 1 year high of $52.15.
STMicroelectronics (NYSE:STM – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The semiconductor producer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.69 billion. STMicroelectronics had a net
margin of 20.08% and a return on equity of 30.77%. The firm's revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, sell-side analysts anticipate that STMicroelectronics will post 3.33 EPS for the current fiscal year.
STMicroelectronics Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 28th. Investors of record on Tuesday, June 21st were paid a $0.051 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, June 17th. STMicroelectronics's dividend payout ratio is currently 6.58%.
Hedge Funds Weigh In On STMicroelectronics
A number of hedge funds have recently modified their holdings of STM. Goldman Sachs Group Inc. grew its stake in STMicroelectronics by 120.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,733,455 shares of the semiconductor producer's stock worth $133,612,000 after buying an additional 1,492,053 shares during the last quarter. Renaissance Technologies LLC raised its holdings in STMicroelectronics by 393.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,530,679 shares of the semiconductor producer's stock worth $75,787,000 after purchasing an additional 1,220,355 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of STMicroelectronics by 33.0% in the first quarter. Van ECK Associates Corp now owns 4,824,022 shares of the semiconductor producer's stock worth $208,494,000 after acquiring an additional 1,197,001 shares during the last quarter. Woodline Partners LP acquired a new position in shares of STMicroelectronics in the first quarter worth $35,847,000. Finally, JPMorgan Chase & Co. grew its position in shares of STMicroelectronics by 374.0% in the first quarter. JPMorgan Chase & Co. now owns 802,557 shares of the semiconductor producer's stock valued at $34,688,000 after purchasing an additional 633,229 shares during the period. 11.49% of the stock is currently owned by hedge funds and other institutional investors.
STMicroelectronics Company Profile
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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.
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