Craig Hallum Cuts STMicroelectronics (NYSE:STM) Price Target to $36.00

STMicroelectronics (NYSE:STM) had its price objective lowered by Craig Hallum from $42.00 to $36.00 in a research report released on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor producer’s stock.

A number of other brokerages have also weighed in on STM. Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. TD Cowen lowered their price target on shares of STMicroelectronics from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. StockNews.com downgraded shares of STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Finally, Susquehanna cut their price target on STMicroelectronics from $45.00 to $35.00 and set a “positive” rating for the company in a report on Monday, October 21st. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Stock Down 1.7 %

STM stock opened at $26.67 on Thursday. STMicroelectronics has a 52 week low of $26.44 and a 52 week 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. The firm has a 50-day simple moving average of $28.67 and a 200-day simple moving average of $35.39. The stock has a market capitalization of $24.09 billion, a P/E ratio of 10.98, a P/E/G ratio of 3.36 and a beta of 1.58.

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

STMicroelectronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is presently 12.35%.

Institutional Investors Weigh In On STMicroelectronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC grew its holdings in shares of STMicroelectronics by 6.3% during the 1st quarter. Bleakley Financial Group LLC now owns 5,051 shares of the semiconductor producer’s stock worth $218,000 after purchasing an additional 298 shares during the period. Inspire Advisors LLC raised its stake in shares of STMicroelectronics by 2.9% in the 2nd quarter. Inspire Advisors LLC now owns 12,970 shares of the semiconductor producer’s stock valued at $509,000 after acquiring an additional 363 shares during the period. Gallacher Capital Management LLC lifted its holdings in shares of STMicroelectronics by 4.6% in the 2nd quarter. Gallacher Capital Management LLC now owns 9,783 shares of the semiconductor producer’s stock worth $384,000 after acquiring an additional 427 shares during the last quarter. Signaturefd LLC boosted its position in shares of STMicroelectronics by 2.5% during the 1st quarter. Signaturefd LLC now owns 21,784 shares of the semiconductor producer’s stock worth $942,000 after purchasing an additional 541 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in STMicroelectronics by 6.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,967 shares of the semiconductor producer’s stock valued at $352,000 after purchasing an additional 564 shares during the last quarter. Institutional investors and hedge funds 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.