STMicroelectronics (NYSE:STM) Receives $50.75 Consensus PT from Analysts

STMicroelectronics (NYSE:STM) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $50.75.

STM has been the topic of several recent analyst reports. StockNews.com cut STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Craig Hallum dropped their price target on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Susquehanna reissued a “positive” rating and set a $55.00 price target on shares of STMicroelectronics in a research report on Monday, April 8th. Finally, HSBC started coverage on shares of STMicroelectronics in a research report on Thursday, February 22nd. They set a “buy” rating on the stock.

STMicroelectronics Price Performance

Shares of NYSE:STM opened at $39.59 on Friday. The company has a quick ratio of 2.44, a current ratio of 3.17 and a debt-to-equity ratio of 0.16. STMicroelectronics has a twelve month low of $37.21 and a twelve month high of $55.85. The stock’s 50 day moving average is $44.31 and its 200-day moving average is $44.68. The firm has a market capitalization of $35.74 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 2.67 and a beta of 1.69.

STMicroelectronics (NYSE:STM) last issued its earnings results on Thursday, January 25th. The semiconductor producer reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.19. STMicroelectronics had a return on equity of 27.70% and a net margin of 24.36%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.08 billion. STMicroelectronics’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 earnings per share. Sell-side analysts forecast that STMicroelectronics will post 3.02 EPS for the current fiscal year.

STMicroelectronics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be given a $0.09 dividend. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 25th. This represents a $0.36 annualized dividend and a yield of 0.91%. STMicroelectronics’s payout ratio is currently 4.48%.

Institutional Trading of STMicroelectronics

Several hedge funds have recently added to or reduced their stakes in STM. Bank of Montreal Can raised its position in STMicroelectronics by 2,911.3% in the first quarter. Bank of Montreal Can now owns 134,004 shares of the semiconductor producer’s stock worth $6,012,000 after acquiring an additional 129,554 shares during the period. BlackRock Inc. raised its position in STMicroelectronics by 9.9% in the first quarter. BlackRock Inc. now owns 3,530,155 shares of the semiconductor producer’s stock worth $152,573,000 after acquiring an additional 318,347 shares during the period. Mariner LLC bought a new stake in STMicroelectronics in the first quarter worth about $579,000. Northern Trust Corp raised its position in STMicroelectronics by 0.8% in the first quarter. Northern Trust Corp now owns 349,772 shares of the semiconductor producer’s stock worth $15,117,000 after acquiring an additional 2,885 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of STMicroelectronics by 105.8% in the first quarter. Hsbc Holdings PLC now owns 5,672 shares of the semiconductor producer’s stock worth $246,000 after purchasing an additional 103,964 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.