STMicroelectronics (NYSE:STM) Price Target Cut to $33.00 by Analysts at Susquehanna

STMicroelectronics (NYSE:STM) had its price target decreased by Susquehanna from $35.00 to $33.00 in a research report report published on Friday, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor producer’s stock.

Other equities research analysts have also recently issued reports about the company. Craig Hallum dropped their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley cut STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 26th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Robert W. Baird dropped their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Citigroup upgraded STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and an average price target of $37.63.

STMicroelectronics Stock Performance

Shares of STM stock opened at $25.96 on Friday. The business has a fifty day moving average of $28.67 and a 200 day moving average of $35.32. The firm has a market capitalization of $23.45 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 3.30 and a beta of 1.57. STMicroelectronics has a 1 year low of $25.95 and a 1 year high of $51.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.84 and a quick ratio of 2.16.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the business posted $1.16 EPS. The company’s revenue was down 26.6% on a year-over-year basis. As a group, research analysts expect that STMicroelectronics will post 1.62 earnings per share for the current year.

STMicroelectronics Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STM. Van ECK Associates Corp boosted its holdings in shares of STMicroelectronics by 26.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,195,521 shares of the semiconductor producer’s stock worth $228,655,000 after purchasing an additional 1,719,257 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of STMicroelectronics by 177.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock valued at $90,806,000 after buying an additional 1,478,213 shares during the period. Lazard Asset Management LLC raised its position in shares of STMicroelectronics by 1,564,831.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,079,803 shares of the semiconductor producer’s stock valued at $46,690,000 after buying an additional 1,079,734 shares during the period. Federated Hermes Inc. raised its position in shares of STMicroelectronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 648,403 shares of the semiconductor producer’s stock valued at $25,469,000 after buying an additional 364,184 shares during the period. Finally, Delta Global Management LP raised its position in shares of STMicroelectronics by 31.3% during the 1st quarter. Delta Global Management LP now owns 1,047,650 shares of the semiconductor producer’s stock valued at $45,300,000 after buying an additional 249,905 shares during the period. 5.05% of the stock is currently owned by institutional investors and hedge funds.

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.