Susquehanna Cuts STMicroelectronics (NYSE:STM) Price Target to $33.00

STMicroelectronics (NYSE:STM) had its target price trimmed by Susquehanna from $35.00 to $33.00 in a research report released on Friday, Benzinga reports. The firm currently has a positive rating on the semiconductor producer’s stock.

Other research analysts have also issued research reports about the company. Robert W. Baird reduced their price target on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday. Craig Hallum cut their price objective on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley lowered STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein cut their price objective on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, STMicroelectronics presently has an average rating of “Moderate Buy” and an average target price of $37.63.

STMicroelectronics Trading Down 1.7 %

Shares of STM stock opened at $26.67 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35. STMicroelectronics has a 1 year low of $26.44 and a 1 year high of $51.27. The stock has a fifty day moving average of $28.67 and a two-hundred day moving average of $35.35. The firm has a market capitalization of $24.09 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 3.36 and a beta of 1.58.

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

STMicroelectronics Announces Dividend

The business also recently announced 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. This represents a $0.36 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is 12.35%.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds have recently modified their holdings of STM. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of STMicroelectronics by 41.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,026 shares of the semiconductor producer’s stock valued at $520,000 after purchasing an additional 3,542 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in STMicroelectronics during the first quarter valued at $113,000. Commonwealth Equity Services LLC raised its position in STMicroelectronics by 6.1% during the first quarter. Commonwealth Equity Services LLC now owns 30,232 shares of the semiconductor producer’s stock valued at $1,307,000 after buying an additional 1,732 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in STMicroelectronics during the first quarter valued at $554,000. Finally, Janney Montgomery Scott LLC raised its position in STMicroelectronics by 19.0% during the first quarter. Janney Montgomery Scott LLC now owns 44,906 shares of the semiconductor producer’s stock valued at $1,942,000 after buying an additional 7,168 shares during the period. 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.