STMicroelectronics (NYSE:STM) Price Target Lowered to $35.00 at Susquehanna

STMicroelectronics (NYSE:STM) had its price target lowered by Susquehanna from $45.00 to $35.00 in a report released on Monday morning, Benzinga reports. The firm currently has a positive rating on the semiconductor producer’s stock.

Other research analysts have also issued reports about the stock. Craig Hallum lowered their price objective on shares of STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Sanford C. Bernstein lowered their price target on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. TD Cowen dropped their price target on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.80.

STMicroelectronics Stock Performance

Shares of NYSE STM opened at $28.15 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35. The stock has a 50 day moving average price of $29.06 and a 200 day moving average price of $35.98. The stock has a market capitalization of $25.43 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 3.40 and a beta of 1.57. STMicroelectronics has a 52 week low of $26.63 and a 52 week high of $51.27.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the business earned $1.06 earnings per share. The firm’s revenue was down 25.3% on a year-over-year basis. Analysts predict that STMicroelectronics will post 1.63 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.28%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s payout ratio is presently 9.63%.

Hedge Funds Weigh In On STMicroelectronics

A number of hedge funds have recently made changes to their positions in STM. Fisher Asset Management LLC raised its holdings in STMicroelectronics by 37.8% during the 4th quarter. Fisher Asset Management LLC now owns 9,131 shares of the semiconductor producer’s stock worth $458,000 after purchasing an additional 2,505 shares during the last quarter. Mather Group LLC. bought a new position in STMicroelectronics during the first quarter worth $28,000. Ballentine Partners LLC lifted its holdings in STMicroelectronics by 14.1% in the first quarter. Ballentine Partners LLC now owns 10,536 shares of the semiconductor producer’s stock valued at $456,000 after buying an additional 1,298 shares during the period. Capital Advisors Wealth Management LLC boosted its position in STMicroelectronics by 8.2% during the first quarter. Capital Advisors Wealth Management LLC now owns 4,822 shares of the semiconductor producer’s stock valued at $209,000 after acquiring an additional 365 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in STMicroelectronics by 41.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,026 shares of the semiconductor producer’s stock worth $520,000 after acquiring an additional 3,542 shares during the period. 5.05% of the stock is currently owned by institutional investors.

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.