STMicroelectronics (NYSE:STM) Downgraded to Market Perform Rating by Sanford C. Bernstein

Sanford C. Bernstein cut shares of STMicroelectronics (NYSE:STM) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have $26.00 price target on the semiconductor producer’s stock, down from their previous price target of $33.00.

A number of other equities research analysts have also issued reports on STM. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. BNP Paribas started coverage on shares of STMicroelectronics in a report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 target price on the stock. TD Cowen cut shares of STMicroelectronics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $25.00 in a report on Monday, January 13th. Craig Hallum reduced their price objective on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Susquehanna lowered their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.26.

STMicroelectronics Price Performance

STM stock opened at $22.29 on Wednesday. The business’s fifty day moving average price is $25.08 and its 200 day moving average price is $27.65. STMicroelectronics has a 12-month low of $21.36 and a 12-month high of $49.05. The company has a market capitalization of $20.13 billion, a PE ratio of 13.42, a P/E/G ratio of 0.76 and a beta of 1.51. The company has a current ratio of 3.11, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a net margin of 11.74% and a return on equity of 8.92%. On average, sell-side analysts anticipate that STMicroelectronics will post 1.04 EPS for the current year.

STMicroelectronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics’s payout ratio is currently 18.67%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in shares of STMicroelectronics by 10.9% in the third quarter. Creative Planning now owns 66,113 shares of the semiconductor producer’s stock valued at $1,966,000 after acquiring an additional 6,509 shares during the period. Washington Capital Management Inc. purchased a new stake in STMicroelectronics in the 3rd quarter valued at $1,112,000. Naviter Wealth LLC boosted its stake in STMicroelectronics by 25.5% during the 3rd quarter. Naviter Wealth LLC now owns 13,945 shares of the semiconductor producer’s stock worth $416,000 after purchasing an additional 2,833 shares during the period. Inspire Advisors LLC grew its position in STMicroelectronics by 21.5% during the 3rd quarter. Inspire Advisors LLC now owns 15,760 shares of the semiconductor producer’s stock worth $469,000 after purchasing an additional 2,790 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in STMicroelectronics by 65.2% in the third quarter. Blue Trust Inc. now owns 9,668 shares of the semiconductor producer’s stock valued at $287,000 after purchasing an additional 3,814 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

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.