STMicroelectronics (NYSE:STM) Price Target Cut to $30.00 by Analysts at Robert W. Baird

STMicroelectronics (NYSE:STM) had its price objective reduced by Robert W. Baird from $35.00 to $30.00 in a research report released on Friday morning, Benzinga reports. They currently have a neutral rating on the semiconductor producer’s stock.

STM has been the subject of several other research reports. TD Cowen cut their price objective on STMicroelectronics from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, July 26th. Craig Hallum reduced their price objective on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Susquehanna cut their target price on shares of STMicroelectronics from $45.00 to $35.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Price Performance

STM traded down $0.47 on Friday, reaching $26.67. The company had a trading volume of 6,813,875 shares, compared to its average volume of 4,814,587. The company has a market capitalization of $24.09 billion, a P/E ratio of 10.98, a PEG ratio of 3.36 and a beta of 1.58. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $28.67 and a 200-day moving average of $35.39. STMicroelectronics has a one year low of $26.44 and a one year high of $51.27.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.44%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same period last year, the firm posted $1.16 earnings per share. The business’s revenue was down 26.6% on a year-over-year basis. As a group, equities research analysts anticipate that STMicroelectronics will post 1.62 earnings per share for the current year.

STMicroelectronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. STMicroelectronics’s dividend payout ratio is 12.76%.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds have recently bought and sold shares of STM. Waldron Private Wealth LLC acquired a new position in shares of STMicroelectronics in the 3rd quarter valued at about $34,000. Whittier Trust Co. of Nevada Inc. increased its stake in STMicroelectronics by 144.2% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after buying an additional 734 shares during the period. Ridgewood Investments LLC purchased a new stake in STMicroelectronics in the 2nd quarter worth approximately $51,000. Tompkins Financial Corp acquired a new stake in shares of STMicroelectronics during the 3rd quarter valued at $59,000. Finally, Covestor Ltd purchased a new position in shares of STMicroelectronics during the 3rd quarter valued at $62,000. 5.05% of the stock is owned by hedge funds and other institutional investors.

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.