STMicroelectronics (NYSE:STM) Receives $43.13 Average Target Price from Brokerages

STMicroelectronics (NYSE:STM) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $43.13.

Several research firms have commented on STM. Morgan Stanley cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. Craig Hallum dropped their price target on STMicroelectronics from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. The Goldman Sachs Group upgraded STMicroelectronics from a “sell” rating to a “neutral” rating and upped their price objective for the company from $35.50 to $45.80 in a research note on Tuesday, June 18th. TD Cowen lowered their target price 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, Sanford C. Bernstein reduced their price target on shares of STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th.

STMicroelectronics Stock Up 2.3 %

Shares of NYSE:STM opened at $28.58 on Monday. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 3.41 and a beta of 1.58. The business’s 50 day moving average is $33.37 and its 200 day moving average is $39.33. STMicroelectronics has a 12-month low of $27.44 and a 12-month high of $51.27. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM) last posted its earnings results on Thursday, July 25th. The semiconductor producer reported $0.38 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue was down 25.3% compared to the same quarter last year. On average, sell-side analysts forecast that STMicroelectronics will post 1.66 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 17th will be given 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 yield of 1.26%. STMicroelectronics’s dividend payout ratio is presently 7.95%.

Institutional Trading of STMicroelectronics

Several hedge funds and other institutional investors have recently modified their holdings of STM. Mather Group LLC. purchased a new stake in STMicroelectronics during the 1st quarter worth about $28,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of STMicroelectronics by 144.2% during the second 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 shares of STMicroelectronics in the second quarter worth about $51,000. Principal Securities Inc. bought a new position in shares of STMicroelectronics in the fourth quarter valued at approximately $70,000. Finally, EverSource Wealth Advisors LLC grew its stake in STMicroelectronics by 59.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,663 shares of the semiconductor producer’s stock valued at $83,000 after acquiring an additional 620 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

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.