STMicroelectronics (NYSE:STM) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of STMicroelectronics (NYSE:STM) from a buy rating to a hold rating in a research report report published on Friday.

A number of other research firms also recently commented on STM. Susquehanna reaffirmed a positive rating and set a $55.00 price objective on shares of STMicroelectronics in a research note on Monday, April 8th. HSBC started coverage on shares of STMicroelectronics in a report on Thursday, February 22nd. They set a buy rating for the company. William Blair restated a market perform rating on shares of STMicroelectronics in a research note on Friday. Berenberg Bank upgraded STMicroelectronics from a hold rating to a buy rating in a research note on Tuesday, April 23rd. Finally, Craig Hallum reduced their target price on STMicroelectronics from $50.00 to $48.00 and set a buy rating on the stock in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $50.75.

STMicroelectronics Trading Down 0.4 %

NYSE:STM opened at $41.17 on Friday. The stock has a 50-day simple moving average of $43.67 and a 200-day simple moving average of $44.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.58 and a current ratio of 3.34. The stock has a market cap of $37.17 billion, a P/E ratio of 10.56, a P/E/G ratio of 3.01 and a beta of 1.69. STMicroelectronics has a 1 year low of $37.21 and a 1 year high of $55.85.

STMicroelectronics (NYSE:STM) last released its earnings results on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). STMicroelectronics had a net margin of 22.30% and a return on equity of 22.95%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the firm posted $1.10 EPS. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. As a group, analysts anticipate that STMicroelectronics will post 2.74 earnings per share for the current fiscal year.

STMicroelectronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, June 25th. STMicroelectronics’s dividend payout ratio is presently 5.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in STMicroelectronics by 13.7% in the 4th quarter. Van ECK Associates Corp now owns 3,735,524 shares of the semiconductor producer’s stock valued at $187,262,000 after acquiring an additional 448,978 shares during the period. Capital International Investors lifted its position in shares of STMicroelectronics by 6.0% in the 4th quarter. Capital International Investors now owns 3,058,401 shares of the semiconductor producer’s stock valued at $153,593,000 after acquiring an additional 172,399 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in STMicroelectronics by 5.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,369,273 shares of the semiconductor producer’s stock worth $118,772,000 after purchasing an additional 120,399 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its position in STMicroelectronics by 0.6% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,229,200 shares of the semiconductor producer’s stock worth $96,212,000 after purchasing an additional 12,476 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in STMicroelectronics by 8.7% during the 4th quarter. Rafferty Asset Management LLC now owns 1,615,616 shares of the semiconductor producer’s stock worth $80,991,000 after purchasing an additional 129,772 shares in the last quarter. Institutional investors and hedge funds own 5.05% of the company’s stock.

STMicroelectronics Company Profile

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.