STMicroelectronics (NYSE:STM) Rating Lowered to Hold at TD Cowen

TD Cowen cut shares of STMicroelectronics (NYSE:STM) from a buy rating to a hold rating in a report issued on Monday, MarketBeat.com reports. TD Cowen currently has $25.00 price target on the semiconductor producer’s stock, down from their prior price target of $32.00.

Several other equities analysts also recently weighed in on STM. Robert W. Baird reduced their price target on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 1st. BNP Paribas began coverage on shares of STMicroelectronics in a report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 price target on the stock. Susquehanna reissued a “positive” rating and set a $33.00 price target on shares of STMicroelectronics in a research report on Thursday, November 21st. Morgan Stanley cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. Finally, StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.11.

STMicroelectronics Trading Down 2.4 %

NYSE:STM opened at $23.96 on Monday. STMicroelectronics has a one year low of $23.66 and a one year high of $49.05. The company’s 50-day simple moving average is $25.58 and its 200 day simple moving average is $29.60. The firm has a market capitalization of $21.65 billion, a P/E ratio of 9.86, a PEG ratio of 3.20 and a beta of 1.52. 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 issued its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, topping 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 firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same period in the previous year, the firm posted $1.16 EPS. The business’s revenue for the quarter was down 26.6% compared to the same quarter last year. As a group, analysts forecast that STMicroelectronics will post 1.64 EPS for the current fiscal year.

STMicroelectronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.50%. STMicroelectronics’s dividend payout ratio is currently 14.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its position in STMicroelectronics by 6.9% during the second quarter. Rhumbline Advisers now owns 19,718 shares of the semiconductor producer’s stock valued at $775,000 after purchasing an additional 1,275 shares in the last quarter. American Century Companies Inc. grew its stake in shares of STMicroelectronics by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 469,669 shares of the semiconductor producer’s stock valued at $18,449,000 after acquiring an additional 28,846 shares during the period. Federated Hermes Inc. grew its stake 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 acquiring an additional 364,184 shares during the period. Dimensional Fund Advisors LP increased its holdings in STMicroelectronics by 177.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,311,888 shares of the semiconductor producer’s stock worth $90,806,000 after acquiring an additional 1,478,213 shares in the last quarter. Finally, Wealth Alliance bought a new stake in STMicroelectronics during the 2nd quarter worth approximately $269,000. Hedge funds and other 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.