STMicroelectronics (NYSE:STM – Get Rating) had its price target boosted by Cowen from $44.00 to $50.00 in a research note issued to investors on Friday, The Fly reports.
A number of other research analysts have also recently issued reports on STM. Barclays cut shares of STMicroelectronics from an overweight rating to an equal weight rating in a report on Tuesday, April 12th. Craig Hallum dropped their price target on shares of STMicroelectronics from $65.00 to $55.00 in a research report on Wednesday, April 27th. Cowen dropped their price target on shares of STMicroelectronics from $66.00 to $60.00 in a research report on Thursday, April 28th. StockNews.com assumed coverage on shares of STMicroelectronics in a research report on Thursday, March 31st. They set a strong-buy rating on the stock. Finally, UBS Group dropped their price target on shares of STMicroelectronics from €44.00 ($45.36) to €38.00 ($39.18) and set a neutral rating on the stock in a research report on Thursday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, STMicroelectronics presently has a consensus rating of Moderate Buy and a consensus target price of $52.13.
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STMicroelectronics Trading Up 0.8 %
NYSE:STM opened at $38.24 on Friday. STMicroelectronics has a 52 week low of $28.35 and a 52 week high of $52.15. The firm has a 50 day moving average of $34.94 and a 200 day moving average of $39.07. The company has a quick ratio of 1.90, a current ratio of 2.60 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $34.73 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 2.28 and a beta of 1.54.
STMicroelectronics (NYSE:STM – Get Rating) last posted its earnings results on Thursday, July 28th. The semiconductor producer reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.11. STMicroelectronics had a net
margin of 20.08% and a return on equity of 30.77%. The company had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. STMicroelectronics's revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that STMicroelectronics will post 3.33 earnings per share for the current fiscal year.
STMicroelectronics Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 28th. Stockholders of record on Tuesday, June 21st were paid a $0.051 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, June 17th. STMicroelectronics's dividend payout ratio is currently 6.58%.
Hedge Funds Weigh In On STMicroelectronics
Several hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of STMicroelectronics by 206.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,090 shares of the semiconductor producer's stock worth $66,000 after buying an additional 1,409 shares in the last quarter. Garner Asset Management Corp raised its stake in STMicroelectronics by 17.3% during the second quarter. Garner Asset Management Corp now owns 46,945 shares of the semiconductor producer's stock worth $1,477,000 after purchasing an additional 6,930 shares during the period. Crossmark Global Holdings Inc. raised its stake in STMicroelectronics by 3.1% during the second quarter. Crossmark Global Holdings Inc. now owns 56,169 shares of the semiconductor producer's stock worth $1,768,000 after purchasing an additional 1,664 shares during the period. Yorktown Management & Research Co Inc purchased a new position in STMicroelectronics during the second quarter worth about $208,000. Finally, Walker Asset Management LLC purchased a new position in STMicroelectronics during the second quarter worth about $1,156,000. 11.49% of the stock is 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.
Further Reading
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