Analysts Set STMicroelectronics (NYSE:STM) Target Price at $39.80

STMicroelectronics (NYSE:STM) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $37.63.

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday. Morgan Stanley downgraded shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday. Craig Hallum decreased 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, October 31st. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Susquehanna dropped their price objective on shares of STMicroelectronics from $35.00 to $33.00 and set a “positive” rating for the company in a research note on Friday.

Institutional Investors Weigh In On STMicroelectronics

Several institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in 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 purchased a new position in STMicroelectronics during the 1st quarter valued at $113,000. Naviter Wealth LLC bought a new stake in shares of STMicroelectronics during the 1st quarter valued at $349,000. Legacy Wealth Asset Management LLC bought a new stake in shares of STMicroelectronics during the 1st quarter valued at $543,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of STMicroelectronics by 6.1% during the 1st 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 in the last quarter. 5.05% of the stock is owned by hedge funds and other institutional investors.

STMicroelectronics Stock Performance

NYSE STM opened at $25.96 on Tuesday. The stock has a market cap of $23.45 billion, a P/E ratio of 10.68, a PEG ratio of 3.30 and a beta of 1.57. The company’s 50-day simple moving average is $28.67 and its 200 day simple moving average is $35.32. STMicroelectronics has a twelve month low of $25.95 and a twelve month high of $51.27. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12.

STMicroelectronics (NYSE:STM) last announced its 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 net margin of 16.11% and a return on equity of 13.29%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the business earned $1.16 earnings per share. STMicroelectronics’s quarterly revenue was down 26.6% on a year-over-year basis. As a group, research analysts forecast that STMicroelectronics will post 1.62 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.36 annualized dividend and a yield of 1.39%. STMicroelectronics’s payout ratio is currently 12.76%.

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.